President Donald Trump signed an executive order on Thursday banning transactions with TikTok owner ByteDance and Tencent’s WeChat

White House | August 07, 2020

President Donald Trump signed an executive order on Thursday banning transactions with TikTok owner ByteDance and Tencent’s WeChat
President Donald Trump signed an executive order on Thursday banning transactions with ByteDance,  the parent company of popular app TikTok . The White House also announced that he signed a similar order banning transactions with WeChat, a messaging app that is ubiquitous in China, but has a much smaller presence than TikTok in the United States, where it is used mainly by members of the Chinese diaspora, and its owner Tencent Holdings. Both orders will take effect in 45 days, but (and this is a key point) the executive orders are vague and confusing because they say Secretary of State Wilbur Ross will not identify what transactions are covered until then. It’s also still uncertain how the executive orders will affect the apps’ operations in the U.S.

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The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.

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Spotlight

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.