U.S. executive orders target TikTok and WeChat

On 6th August 2020, U.S. President Trump issued Executive Order 13942 and 13943 against TikTok and WeChat, respectively. TikTok, a video-sharing mobile app owned by ByteDance Ltd., and WeChat, a messaging, social media and mobile payment app owned by Tencent Holdings Ltd., are cited as threats to the “national security, foreign policy, and economy of the United States” because of their prolific use in the U.S. and because they are developed and owned by Chinese companies. The executive order comes into effect 45 days after issuance and prohibits transactions between U.S. individuals or entities with ByteDance Ltd. or Tencent Holdings Ltd. (if that transaction relates to WeChat).