US to bar people in US from downloading TikTok or WeChat starting September 20 – Reuters

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The US Commerce Department is planning to publish an order at 1245 GMT on Friday that will bar people in the United States from downloading TikTok or WeChat starting September 20, Reuters reported on Friday, citing three officials familiar with the matter.

Additional takeaways

“US will order Apple, Google and others to remove the Chinese apps from platforms accessible from within US.”

“US will not seek to bar Google or Apple from offering TikTok or WeChat outside the US.”

“US Commerce Department will not bar US companies from doing business on WeChat in China.”

“US could scrap the ban on TikTok downloads if Trump approves deal to separate TikTok US assets.”

Market reaction

This headline doesn’t seem to be having a significant impact on the market sentiment so far. As of writing, the S&P 500 futures were up 0.1% on a daily basis. However, the geopolitical tensions could escalate and cause risk aversion if China responds to this development.