Apple Inc., Ford Motor Co., Walmart Inc., and Walt Disney Co. were among those represented in the call in which they expressed their anxiety that competitiveness in China may be undermined by the order. As planned, the new presidential executive order will take effect next month, banning U.S. companies from "any transaction that is related to WeChat."
"We have worked with WeChat in the past to identify opportunities to work with restaurants that can get set up. WeChat actually recently started a series where they are working with Napa Valley to promote business there and promote tourism," said Darlene Chiu Bryant, executive director of GlobalSF.
In 2019, Chinese visitors spent more than 1.3 billion dollars visiting the San Francisco Bay Area. For many of them, WeChat, with its ability to make payments, played a valuable role.
Other participants in the call included Procter & Gamble Co, Intel Corp, MetLife Inc, Goldman Sachs Group Inc, Morgan Stanley, United Parcel Service Inc, Merck & Co Inc and Cargill Inc.
In his latest report, TF International Securities analyst Kuo Ming-chi estimated that global iPhone shipments could drop by 25 to 30 percent if Apple is forced to remove WeChat from its global app store. Besides, the annual shipments of other Apple hardware devices, including AirPods, iPad, Apple Watch, and Mac, will be revised down by 15 to 25 percent.
According to a survey on China's Twitter-like social media platform Weibo, about 95 percent of 1.2 million people that responded said they would switch to an Android smartphone over an iPhone rather than give up WeChat if it were banned.