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WASHINGTON (Reuters) - The United States added dozens of Chinese companies, including the country’s top chipmaker SMIC and Chinese drone manufacturer SZ DJI Technology Co Ltd, to a trade blacklist on Friday as U.S. President Donald Trump’s administration ratchets up tensions with China in his final weeks in office.
Reuters first reported the addition of SMIC and other companies earlier on Friday. The move is seen as the latest in Republican Trump’s efforts to burnish his tough-on-China image as part of lengthy fight between Washington and Beijing over trade and numerous economic issues.
The U.S. Commerce Department said the action against SMIC stems from Beijing’s efforts to harness civilian technologies for military purposes and evidence of activities between SMIC and Chinese military industrial companies of concern.
China’s new rules amp up pressure on US businesses
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The rules include blocking Chinese companies like Huawei from obtaining certain components made by US or foreign suppliers or US technology
(REUTERS)
Stella Yifan Xie
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Hong Kong: Beijing hit back against recent US restrictions targeting Chinese companies, saying it plans to ban Chinese firms and citizens from complying with foreign laws and sanctions it deems “unjustified.
Beijing’s new rules, released Saturday, also allow Chinese companies to sue in Chinese courts those who comply with the foreign laws.
The rules come after the US imposed various restrictions against Chinese companies. Those include blocking some Chinese companies like Huawei Technologies Co. from obtaining certain components made by US or foreign suppliers, or accessing US technology.
Chip Shortage Forces Nissan, Ford, Toyota, FCA To Cut Vehicle Production
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Toyota will cut production of its Tundra full-size pickup truck at its San Antonio, Texas plant
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