Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
CSPC Pharma and AstraZeneca Forge Multibillion-Dollar Partnership to Develop Long-Acting Peptide Drugs 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Tesla Launches New Model Y Variant in the US Starting at $41,990 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
TikTok and WeChat may return to the U.S. now after President Joe Biden lifts the ban on them. The move comes after the leader revoked former President Donald Trump’s executive order that led to the blocking of Chinese companies from operating or doing business in the U.S.
The ban in Chinese firms
As per Reuters, it was on Wednesday. June 9, when President Biden canceled the said EO. It can be recalled that Trump issued executive order 13959 to prohibit investors from doing business with any Chinese firms as they could have links to the Chinese military.
If there is truly a link between businesses and the army, Trump said that companies are being used to fund the Chinese army. He said that they are threats to America’s security, so many Chinese telecom companies and apps were banned last year, and this includes the highly popular TikTok and WeChat.
Trump’s administration tried to block new users from downloading the apps, and technical transactions with TikTok and WeChat were not allowed as well. TikTok appealed and insisted it does not have any link to the Chinese army.
Biden repealed the EOs and replaced them with new ones
Now the executive orders from the Trump administration were taken back by Biden. The current president canceled three EO’s that are aiming to ban all transactions with WeChat and TikTok. With Biden’s move, the order was halted from fully taking effect in the U.S.
TikTok remained popular in the region despite being suspected of being a threat to the nation. The new administration will be re-evaluating apps, and then they will only be blocked once proven to the security risk, as per Bloomberg.
The criteria that will be followed for the evaluation was in Biden’s signed executive order. When Trump initially announced his EO’s, it was greatly challenged, especially by the tech companies as they are the ones that were directly hit by the orders. It appears that businesses and investors could relax now since the ban on Chinese-owned companies may never take effect with the new order.
Finally, TikTok declined to comment on the latest development. WeChat reps did not respond to CNBC’s request for comment as well.
