Trump Administration Plans To Add China’s Ant Group To Trade Blacklist, Report Says

Trump Administration Plans To Add China’s Ant Group To Trade Blacklist, Report Says

Topline

The U.S. State Department has submitted a proposal to add Chinese fintech giant Ant Group to a trade blacklist, just weeks before the Alibaba affiliate is set to go public, in a move that seeks to continue the Trump administration's crackdown on Chinese tech majors.

Ant Group is sent to go public with a dual listing in Shanghai and Hong Kong.



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Key Facts





Washington is reportedly trying to add Ant Group— which is 33% owned by Alibaba—on its so-called ‘Entity List'  which would restrict American companies from doing business with the company. Reuters reported on Thursday, citing sources.





The Chinese fintech major, which owns the popular digital payment