Trump's Final Tantrum?…Signing of Administrative Order Banning Transactions with Chinese Apps like Alipay (Comprehensive)

An Interpretation That It Is to Burden the Next Biden Administration

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] U.S. President Donald Trump has signed an executive order banning transactions with eight Chinese applications, including Alipay, the online payment platform led by Ma Yun. This move is based on concerns over national security, similar to previous sanctions on Huawei and TikTok. However, there is growing interpretation that President Trump, who is contesting the election results, is throwing a final tantrum to burden the incoming administration.

According to the Wall Street Journal (WSJ) on the 5th (local time), President Trump signed an executive order banning transactions within the U.S. involving eight Chinese apps, including Alipay and QQ Wallet and WeChat Pay operated by Tencent Holdings.

This action by the Trump administration is based on the same reasoning as the previous sanctions on Huawei and TikTok, citing that Chinese electronic payment platforms like Alipay pose a threat to U.S. national security. The concern is that the Chinese Communist Party could gain access to sensitive information such as personal data and financial information of hundreds of millions of people.

However, these companies have a very small revenue share outside China, and the executive order will effectively take effect 45 days after President Trump leaves the White House, leading to interpretations that there may be other motives. Alipay has 1 billion users worldwide, but only 5% of them are outside China.

Therefore, the signing of the executive order is expected to be largely symbolic pressure. Local media interpret that President Trump, who is claiming election fraud and whose Republican Party and close aides are not supporting him, is throwing tantrums by wielding powers such as executive orders recklessly. There is also growing support for the claim that President Trump, who is denying the election results, is deliberately issuing executive orders to make it difficult for the next administration to carry out its policies.

President Trump’s tantrums were predicted by some media after the election. The British Guardian mentioned shortly after the U.S. presidential election that "the period until the new president’s inauguration on January 20 will be the most dangerous in U.S. history." Earlier, on the 2nd, three major Chinese telecommunications companies were also removed from the New York Stock Exchange. Major foreign media analyzed that "the executive order banning Chinese apps such as Alipay could escalate tensions with China just before President-elect Joe Biden’s inauguration."

This content was produced with the assistance of AI translation services.