Corporate America worries WeChat ban could be bad for business: report

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WeChat ban could be bad for business

US companies whose fortunes are linked to China are pushing back against the Trump administration’s plans to restrict business transactions involving Tencent’s WeChat app, the Wall Street Journal reported on Thursday.

More than a dozen major U.S. companies raised concerns in a call with White House officials on Tuesday about the broad scope and impact of Trump’s executive order targeting WeChat, set to take effect late next month, the report added.

The companies said action against the app could undermine their competitiveness in the world’s second-biggest economy, according to the report.

Apple, Ford Motor, Walmart and Walt Disney were among those participating in the call, the Journal reported citing people familiar with the situation.

Other participants in the call included Procter & Gamble, Intel, MetLife, Goldman Sachs Group, Morgan Stanley, United Parcel Service, Merck & Co and Cargill.

The companies did not immediately respond to Reuters requests for comment.

U.S. President Donald Trump on August 6 unveiled sweeping bans on US transactions with owners of WeChat and video-sharing app TikTok, which his administration has called “significant threats”.

WeChat is an all-in-one mobile app that combines services similar to Facebook, WhatsApp, Instagram and Venmo. The so-called super app is almost essential for daily life in China and boasts more than 1 billion users.

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