Reuters: The Trump administration has suspended plans to blacklist Ant Group

The Trump administration has shelved plans to blacklist Ant Group after Alibaba executives spoke by phone with top U.S. government officials, Reuters reported, citing four people familiar with the matter. Michael Evans, Alibaba’s president, shelved the plan after he called on Wilbur Ross, the commerce secretary, to veto the proposal, Reuters reported, citing people familiar with the matter.

Reuters: The Trump administration has suspended plans to blacklist Ant Group

Factors that led Mr. Ross to shelve the plan included a failure to confront Wall Street before the election and the possibility of litigation, according to three people familiar with the matter.

Reuters reported last month that the U.S. State Department had proposed blacklisting ants to prevent U.S. investors from participating in the ants’ listing.

The report added that while U.S. users are temporarily unable to use Alipay, the Trump administration’s Chinese hawks are concerned that the platform may have access to sensitive bank data from U.S. users in the future.

Reuters: The Trump administration has suspended plans to blacklist Ant Group