U.S. President Donald Trump has signed Executive Orders banning transactions with Chinese companies Tencent and ByteDance, who are behind WeChat and TikTok. The legislation come into effect in 45 days.
TikTok and WeChat Hit by New Executive Orders
Clearly, this is a major step up of tensions between the U.S. and China which started with Huawei a few years ago and has now engulfed consumer apps,” Wedbush analyst Dan Ives told Reuters. Meanwhile, TikTok described itself as “shocked” by the administration’s move. It said it will take action to “ensure that the rule of law is not discarded.”
[TikTok and Microsoft. Deal or no Deal?]