Such a move would mark a new deterioration in relations between the world’s two largest economies, which have been stained by disputes over trade, Hong Kong’s autonomy, cyber security and the spread of the novel coronavirus. The step would also illustrate how President Donald Trump’s administration is now seeking to prevent Chinese firms from engraining themselves in the U.S. financial system before they become a significant threat. In the last year, the United States has cracked down on Huawei [HWT.UL] and TikTok after allowing the Chinese-owned firms to become major players in U.S. telecommunications infrastructure and social media, respectively. U.S. officials have expressed concerns that these firms could be passing on the information of U.S. citizens to China’s Communist Party government. Both Ant’s Alipay and Tencent’s WeChat payment platforms are used primarily by Chinese citizens holding accounts in renminbi. Most of their interactions with the United States are with U.S. merchants accepting payments from Chinese travelers and businesses. Talks over how and whether to restrict Ant Group and Tencent’s payment systems have picked up pace among senior U.S. officials in recent weeks, though a final decision is not imminent, Bloomberg reported, citing people familiar with the matter. A spokesperson for Ant Group said the company was “unaware of any such discussions within the administration”. “Ant Group’s business is primarily in China and we are excited about our growth prospects in the China market. Our mission is to contribute to economic growth and job creation through serving ordinary consumers and small businesses,” the company said.