The U.S. will ban the use of the Chinese app WeChat on Sunday citing national security concerns.
“At the President’s direction, we have taken significant action to combat China’s malicious collection of American citizens’ personal data, while promoting our national values, democratic rules-based norms, and aggressive enforcement of U.S. laws and regulations,” Ross said in a prepared statement.
The action is the Trump administration’s latest attempt to weaken influence from China, a rising economic superpower. Since taking office in 2017, Trump has waged a trade war with China, blocked mergers involving Chinese companies and stifled the business of Chinese firms like Huawei, a maker of phones and telecom equipment.
How this doesn’t blow back on Apple in a negative way in terms of if it’s allowed to do business in China is beyond me. Of course the Chinese government is going to retaliate against U.S. technology companies operating inside China.
The commerce department announced Friday morning that it would ban U.S. business transactions with China-owned social apps WeChat and TikTok on Sunday. Henry Blodget, CEO and co-founder of Insider, joins “Squawk Box” to discuss the implications of this decision.