Order affecting WeChat parent company Tencent could have wider implications for movie and video game companies as well
In executive orders signed Thursday night, Donald Trump targeted the Chinese corporate owners of social media apps WeChat and TikTok, threatening serious financial restrictions, and demanding that they sell the apps’ U.S. businesses to American companies within 45 days.
Citing “the national emergency with respect to the information and communications technology and services supply chain” Trump described in a previous order, the new orders will bar U.S. citizens or businesses from conducting any financial transactions with WeChat and TikTok or their parent companies. The order will take effect “45 days after the date of this order,” on Sept. 20.
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