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Company fundamental data provided by Morningstar. The Trump administration announced Friday morning that it will ban Chinese-owned messaging and payment app WeChat effective Sunday and block new downloads of video-sharing app TikTok on the same day.Continue Reading BelowThe announcement comes ahead of an expected decision from President Trump about whether to approve a proposal from Oracle to invest in a newly restructured TikTok, with operations based in the U.S.“At the president’s direction, we have taken significant action to combat China’s malicious collection of American citizens’ personal data, while promoting our national values, democratic rules-based norms, and aggressive enforcement of U.S. laws and regulations," Commerce Secretary Wilbur Ross said in a statement.The moves were telegraphed in an executive order from President Trump earlier this summer banning transactions with WeChat, owned by Tencent Holdings, and TikTok, owned by Bytedance.
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