WASHINGTON - 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.
The decision to shelve plans to add the Chinese tech giants is a blow to China hawks in the administration, who have been seeking to cement outgoing President Donald Trump’s tough-on-China legacy before his presidency ends on Jan. 20. But Treasury Secretary Steven Mnuchin, widely seen as taking a more dovish stance on China, pushed back, freezing the plans, the people said. The companies as well as the Treasury, State and Defense departments did not immediately respond to requests for comment.
Last month, the White House added China’s top chipmaker, SMIC, and oil giant CNOOC to the blacklist. Trump also unveiled an executive order in January banning U.S. transactions with eight Chinese apps including Ant Group’s Alipay. Both measures were first reported by Reuters.