Trump Executive Orders Target TikTok, WeChat Apps


President of the United States signed two executive orders Thursday under the International Emergency Economic Powers Act and a couple other justifications forbidding transactions with tiktok owner bite dance, and any transactions with ten cents related to their super. APP We chat. Each of these orders takes effect September twentieth. You might recall Microsoft has until September fifteenth to reach a deal to buy some or all of Tiktok from by dense. So there's a little bit of a gap there between win Microsoft's deadline is and when this executive order takes place. So that's the first thing to remember is they didn't ban the APPS they banned transactions with the companies which could cause apps to disappear and it doesn't happen until. September twentieth. So there's forty five days to figure out how this is going to work. Secretary of Commerce Wilbur Ross will identify which transactions will be considered prohibited under the order. So that's going to change a lot of people are looking at the tencent order and saying, well, wait could this band transactions with other ten cent industries and so that will be important for the the definition from Wilbur Ross to decide is it really just we chat? The use of the emergency act is generally applied to terrorism or sometimes international trade and will likely be challenged in court. In fact, tiktok is pretty much said it's going to do that. The order claims the APPS access to user data including location browsing messaging payments, and search histories. Quote threatens to allow the Chinese Communist Party access to America's personal and proprietary information potentially allowing China to track the locations of federal employees and contractors. Bill dossiers a personal information for blackmail and conduct. `corporate espionage. This is considered in both cases, a threat to national security foreign policy and the economy of the United. States. So there's the justification they're going to have to find out in court. While, the order against we chat is likely to be narrow if it's not. It could affect ten cents non we chat businesses. In fact, some companies may just out of an abundance of caution decide to back off ten cents non we chat businesses just in case. And Ten, cent owns riot games, which makes League of legends they wholly own it. It's there's. Ten cent is also an investor in spotify snap. Read it. Tesla Warner Music Universal Music and fortnight maker epic Games. Any

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