WeChat ban could hit competitiveness, revenue: US firms in Shanghai

SHANGHAI (Reuters) – U.S. companies based in the financial hub of Shanghai said Washington’s planned ban on Chinese messaging app WeChat could badly hit their competitiveness and revenue should it apply to U.S. firms and citizens in China, a survey showed on Wednesday.

The American Chamber (AmCham) in Shanghai said 88% of 142 respondents to a survey it conducted of firms subject to U.S. jurisdiction this week expected negative impact on operations stemming from the loss of WeChat as a communication tool.

U.S. President Donald Trump this month announced an executive order banning WeChat-related U.S. transactions from mid-September citing national security. His administration is yet to detail the types of transactions affected.

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