Reuters exclusively reported that the Trump administration has put on hold an effort to blacklist Ant Group Co Ltd, the Chinese financial technology company affiliated with e-commerce giant Alibaba, following a phone call between a company executive and a top U.S. government official. Reuters previously broke the news that the U.S. State Department had submitted a proposal to add Ant Group to a trade blacklist in order to deter U.S. investors from taking part in its initial public offering, which was expected to rake in a record $37 billion before being postponed. 

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