The tensions between the Trump administration and Chinese conglomerate Tencent proceed to accentuate with the U.S. Committee on Foreign Investment’s latest prioritization of nationwide safety. As per a Bloomberg report, letters from the Committee have been despatched to a number of growth corporations – like Riot Games and Epic Games – inquiring in regards to the administration of their U.S.-based shoppers’ private information.
Last month, President Trump ordered a ban on Tencent’s WeChat app. The specifics of the ban in addition to the order itself will go into impact on September 20 as soon as the parameters of the restrictions are decided and introduced by the Commerce Department. It was initially reported that the video game corporations underneath the Tencent umbrella wouldn’t be impacted by the chief orders signed in August, however that seems to have modified within the time since. Only time will inform what sort of influence this has, not solely on the games trade, however on American international coverage as a complete.
Tencent holds full possession of League of Legends and Valorant developer Riot Games, in addition to main stakes in Path of Exile developer Grinding Gear Games, Clash of Clans and Clash Royale developer Supercell, and a 40-percent stake in Fortnite and Unreal Engine developer Epic Games. Tencent additionally holds smaller stakes in Activision Blizzard, Ubisoft, Frontier Developments, and a number of other different distinguished builders.
[Source: Bloomberg]
