President Trump backs down on ban on investing in Alibaba, Tencent or Baidu

The only thing that does not stop in a world paralyzed by the pandemic are the stock markets and the decisions on economic policy in the face of the crisis. On previous occasions we have reported on how the trade war between the United States and China is developing, which has led the leaders of both states to take their best cards and play them for a not very risky bet. This, according to Reuters, would have started with the Trump administration's plans to blacklist Chinese firms such as Alibaba, Tencent and Baidu.

However, after long weeks of disagreement between Treasury officials and the State Department, the Trump administration has decided that it will not ban American investments in tech giants. But it will prohibit Americans from investing in nine other firms, which has increased the tension between the two parties.

Over the last year, the Trump administration took a great responsibility for action to do intelligence work against possible espionage and threats received by Chinese multinational corporations. A clear example of this was the attempt to prohibit the download and use of the TikTok application in the United States, which resulted in the purchase of Oracle and Walmart services.

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Elijah Casanova
Ninth cycle Law student at the Universidad del Pacífico. With an interest in technology, business and law. New technologies are our letter to the future.

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