Trump imposed new sanctions on Chinese companies

Trump imposed new sanctions on Chinese companies

U.S. President Donald Trump has imposed new sanctions against Chinese companies.

Trump decided to limit any transactions with the owners of eight Chinese applications, including payment systems Alipay and WeChat Pay. According to him, these services can access the personal information of users and be used by the Chinese government to spy on U.S. citizens.

It is noted that Trump’s decree to impose restrictions will take effect only in 45 days, when U.S. President-elect Joe Biden comes to power. Trump’s successor may refuse these measures.

Earlier, the U.S. House of Representatives unanimously passed a bill that could deprive Chinese companies of the ability to place their stock on U.S. exchanges. The document notes that the project should solve a longstanding problem, exacerbated amid trade disputes between the U.S. and China.