US may add Ant Group to trade blacklist

Beijing slams abusing concept of national security to oppress foreign companies

China's Ant Group has become the latest target of the administration of US President Donald Trump as it considers a potential blacklisting of the Chinese fintech giant, but financial experts said the move is largely symbolic.

The US State Department has submitted a proposal to add Ant Group to the "entity list", according to a Reuters report citing two people familiar with the matter.

The list is a trade blacklist that restricts US companies from exporting certain technologies and products to those individuals or companies.