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Trump admin shelves planned investment ban on Alibaba, Tencent, Baidu

Senior officials in the administration had been considering plans to add the firms to a list of alleged Chinese military companies, which would have subjected them to a new US investment ban

Photo: Reuters
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Photo: Reuters

Reuters
The Trump administration has scrapped plans to blacklist Chinese tech giants Alibaba, Tencent and Baidu, four people familiar with the matter said, providing a brief reprieve to Beijing's top corporates amid a broader crackdown by Washington.
 
Senior officials in the administration had been considering plans to add the firms to a list of alleged Chinese military companies, which would have subjected them to a new US investment ban.

But Treasury Secretary Steven Mnuchin, who is widely seen as taking a more dovish stance on China, pushed back, freezing the plans, the people said. Even so, the Trump administration plans to move