Categories: Market Overview

U.S. is looking at banning more Chinese apps

President Donald Trump’s administration is looking into banning more Chinese apps that could pose a national security threat, White House chief of staff Mark Meadows said late Thursday. He made the comments to reporters on board Air Force One, according to a pool report, but did not mention specific apps that could be blocked.

The remarks echo those Meadows recently made, including last month when he said the administration was looking at banning apps “that might collect personal information and have potential national security risk,” Reuters reported. Washington has led a campaign against Chinese technology giants from Huawei to ByteDance. The Trump administration has alleged Huawei and other Chinese technology companies could collect American user data and hand it to Beijing, a claim several firms have denied.

Currently Oracle as well as a team of Microsoft and Walmart are bidding to buy part of TikTok’s business. The deal, which could be worth between $20 billion to $30 billion, was expected to be closed this week. But late on Friday, China updated a list of technologies subject to export restrictions which it hasn’t touched in over a decade. The amended list included technologies for “recommendation of personalized information services based on data analysis.”

It’s not just the U.S. that has gone after Chinese technology firms. India banned 118 Chinese-linked apps this week, citing national security concerns. Geopolitical tensions between India and China have been on the rise over the disputed Himalayan mountain border in the region of Ladakh. In June, a border clash between the two nations left 20 Indian soldiers dead.

U.S. is looking at banning more Chinese apps over national security as TikTok sale stalled, CNBC, Sep 4

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

USDJPY Wave Analysis 26 April 2024

- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…

2 days ago

Ebay Wave Analysis 26 April 2024

- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…

2 days ago

False Alert with Yen Interventions?

Even though the Bank of Japan left the key rate and parameters of the QE…

3 days ago

Cooler Bitcoin

Market picture  Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…

3 days ago

GBPCAD Wave Analysis 25 April 2024

- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…

3 days ago

GBPAUD Wave Analysis 25 April 2024

- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…

3 days ago

This website uses cookies