Hong Kong (CNN Business) Washington could soon expand its war against Chinese tech companies by setting its sights on Ant Group, the crown jewel of billionaire Jack Ma's empire. Unlike other Chinese tech firms that have drawn the ire of Washington, Ant does little business in the United States. Ant Group was floated as a potential US target by Bloomberg News, which reported last week that the Trump administration is considering restrictions on Ant, as well as Tencent's WeChat Pay. WeChat is already facing scrutiny in the United States, but sanctions on Ant and its payments app Alipay would be an escalation in the US-China tech war. Alipay and WeChat Pay are daily necessities for hundreds of millions of Chinese merchants and consumers.

Source: CNN October 12, 2020 09:33 UTC