U.S. President Donald Trump on Thursday unveiled sweeping bans on U.S. transactions with China's ByteDance, owner of video-sharing app TikTok, and Tencent, operator of messenger app WeChat, in a major escalation of tensions with Beijing.
TikTok has come under fire from U.S. lawmakers over national security concerns surrounding data collection as distrust between Washington and Beijing grows. Reuters on Sunday reported that Trump has given Microsoft Corp 45 days to complete the purchase of TikTok's U.S. operations. U.S. concerns about China's tech industry had until recently focused on telecom equipment vendor Huawei Technologies Co Ltd . As relations soured over a host of economic and human rights issues, it has sanctioned numerous other Chinese tech firms.
Commerce Secretary Wilbur Ross will identify transactions covered after the orders take effect in mid-September.
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