WASHINGTON - U.S. President Donald Trump announced Thursday sweeping bans on U.S. transactions with China's ByteDance, owner of video-sharing app TikTok, and Tencent, operator of the WeChat app, starting in 45 days, in a major escalation of tensions with Beijing.
Trump issued the orders under the International Emergency Economic Powers Act, a law that grants the administration sweeping power to bar U.S. firms or citizens from trading or conducting financial transactions with sanctioned parties. U.S. Commerce Secretary Wilbur Ross will identify transactions covered by the prohibition after the order takes effect in mid-September. The order leaves key unanswered questions about the restrictions.
Lewis said there are only about 3 million WeChat users in the United States and they are mostly Chinese.
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