Trump scraps plan to ban China’s Alibaba, Tencent, Baidu: Sources

Senior US officers had been contemplating plans so as to add the corporations to an inventory of alleged Chinese language navy firms, which might have subjected them to a US funding ban.

The administration of United States President Donald Trump has scrapped plans to blacklist Chinese language tech giants Alibaba, Tencent and Baidu, 4 individuals acquainted with the matter advised Reuters information company, offering a quick reprieve to Beijing’s prime corporates amid a broader crackdown by Washington.

Senior officers within the administration had been contemplating plans so as to add the corporations to an inventory of alleged Chinese language navy firms, which might have subjected them to a brand new US funding ban.

However Treasury Secretary Steven Mnuchin, who’s extensively seen as taking a extra dovish stance on China, pushed again, freezing the plans, the individuals mentioned. Even so, the Trump administration plans to maneuver ahead this week with a bid so as to add as many as 9 different Chinese language firms to the record, one of many individuals mentioned.

The Treasury and State Departments and the Pentagon didn’t instantly reply to requests for remark.

The abrupt resolution throws into stark aid the deep divisions inside Washington on China coverage, whilst outgoing President Trump seeks to cement his tough-on-China legacy and lock President-elect Joe Biden into aggressive measures in opposition to the world’s second-largest economic system.

Final month, the White Home added China’s prime chipmaker, SMIC, and oil big CNOOC to the blacklist, as first reported by Reuters. Trump additionally unveiled an government order in January banning US transactions with eight Chinese language apps together with Ant Group’s Alipay.

Whereas Trump touted a commerce deal inked between the rival nations, relations between Washington and Beijing soured final yr over China’s dealing with of the lethal coronavirus and its crackdown on freedoms in Hong Kong.

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