US President Donald Trump has signed an order banning US transactions with eight digital Chinese payment platforms including Ant Group’s Alipay in 45 days, when he’ll no longer be in office.
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The US is set to add dozens of Chinese companies, including the country’s top chip maker, SMIC, to a trade blacklist on Friday, two people familiar with the matter said.
A deadline set by the Trump administration for the forced sale of TikTok’s US assets is expected to come and go on Friday night without a final deal, according to people familiar with the discussions.
The Trump administration is poised to add China’s top chip maker, SMIC, to a blacklist of alleged Chinese military companies, escalating tensions with Beijing weeks before President-elect Joe Biden takes office.
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ByteDance, the Chinese parent company of TikTok, has filed a petition with a US appeals court challenging a Trump administration order set to take effect on Thursday requiring it to divest TikTok.
China’s technology industry, one of Donald Trump’s main targets in Washington’s tussles with Beijing, hopes Joe Biden can create a more constructive relationship – but few think the rivalry will de-escalate.
ByteDance is in discussions over a $2-billion financing round before listing some of its businesses in Hong Kong, people familiar with the matter said, as talks over a sale of TikTok to Oracle and Walmart stall.
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