Trump's Order Could Still Affect American Companies That Do Business In China

Jason Winter
By Jason Winter, News Editor August 7, 2020
Share:

You might not lose the ability to play your favorite games -- and purchase things in them -- but President Trump's executive order against Tencent is still having some effects on the company. Notably, it's being reported that the company lost $34.6 billion in market value overnight, and it could still affect American companies, even those who aren't involved in video games.

Newsweek is reporting that the order will only affect WeChat, and not the vast number of other companies Tencent is involved in. So don't worry, you'll still be able to play League of Legends (Riot is 100% owned by Tencent) and Fortnite (Epic Games is 40% owned by Tencent), as well as numerous other companies that Tencent has a smaller piece of (Grinding Gear Games, Activision-Blizzard, and so on).

If the XO only targets WeChat, then what's the problem? WeChat has over a billion global users, who use it for all sorts of things -- not just social media. As one analyst predicts, the ban "has potential to take a cleaver to US-China links - at a corporate and personal level" by forbidding users in China from using WeChat to conduct transactions with American companies located there. And there are a lot of American companies doing business in China. You can debate whether that's a good thing or a bad thing and the consequences of it, but it's unlikely that big American companies aren't going to try and push back on this.

So most Americans might not have much to worry about, but -- unsurprisingly -- Donald Trump has unleashed what's likely to be an unexpected firestorm of controversy due to his, and others', presence on social media. This time, however, the opposition won't be some marginalized groups but large corporations with plenty at stake, and the resources to put up a fight. As for me, I'm just looking forward to having a president who won't go ballistic and try to tank a segment of the economy when someone says mean things to him.

Share:
Got a news tip? Contact us directly here!

About the Author

Jason Winter
Jason Winter, News Editor
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.

Discussion (1)

Peasant 2 years ago
I have no problem with this It's about time someone takes a stand against an authoritarian government that portrays what the Fascists do back then.


You May Enjoy

Black Friday Is This Week And Game Companies Would Like Your Money, So Here's Some Deals

Black Friday Is This Week And Game Companies Would Like Your Money, So Here's Some Deals

NCSoft and Square Enix are both rolling out the discounts.

By QuintLyn Bowers - 4 days ago
Pantheon’s Latest Parting The Veil Live Video Discusses The Game’s Past Compared To Where It’s At Now

Pantheon’s Latest Parting The Veil Live Video Discusses The Game’s Past Compared To Where It’s At Now

It’s kind of an ongoing development deep dive.

By QuintLyn Bowers - 1 week ago
EverQuest’s Night Of Shadows Expansion Is Almost Upon Us

EverQuest’s Night Of Shadows Expansion Is Almost Upon Us

Things are getting crazy.

By QuintLyn Bowers - 3 days ago
Fortnite Will Kick Off Chapter 3 Finale "Fracture" Event On December 3, XP Events Planned Before Release

Fortnite Will Kick Off Chapter 3 Finale "Fracture" Event On December 3, XP Events Planned Before Release

An otherworldly event is coming to the Island soon.

By Anthony Jones - 4 days ago
Black Desert Online Drops Console Update, Adds New Classes In Both Mobile And PC Versions

Black Desert Online Drops Console Update, Adds New Classes In Both Mobile And PC Versions

There’s a little something for everyone.

By QuintLyn Bowers - 3 days ago
New World Of Warcraft: Dragonflight Survival Guide Video Tours The Expansion's Dungeons, Areas, And More

New World Of Warcraft: Dragonflight Survival Guide Video Tours The Expansion's Dungeons, Areas, And More

Here's a quick rundown to prep you for the Dragon Isles.

By Anthony Jones - 3 days ago