U.S. Blacklists More Than 60 Chinese Firms, Including SMIC
Bloomberg 12/18/2020 Bloomberg News
(Bloomberg) The U.S. Commerce Department announced it’s blacklisting Semiconductor Manufacturing International Corp., drone maker SZ DJI Technology Co. and more than 60 other Chinese companies “to protect U.S. national security.”
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“This action stems from China’s military-civil fusion doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex,” the Commerce Department said in a statement.
Commerce Secretary Wilbur Ross confirmed the move in a Friday morning interview with Fox Business. It was reported first by Reuters overnight. Shares in SMIC, China’s top chipmaker, slid 5.2% Friday in Hong Kong on the news.
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18 Dec 2020 / 20:51 H.
(Adds Commerce confirming, details)
By Alexandra Alper, David Shepardson and Humeyra Pamuk
WASHINGTON, Dec 18 (Reuters) - The United States confirmed on Friday it will add dozens of Chinese companies, including the country s top chipmaker, SMIC, to a trade blacklist.
The move, which was first reported by Reuters, is seen as the latest in President Donald Trump s efforts to cement his tough-on-China legacy. It comes just weeks before Democratic President-elect Joe Biden is set to take office on Jan. 20.
The U.S. Commerce Department confirmed the decision early Friday, saying the action stems from China s military-civil fusion (MCF) doctrine and evidence of activities between SMIC and entities of concern in the Chinese military industrial complex.