Friday, 18 Dec 2020 07:48 PM MYT
A security officer stands outside a building of Semiconductor Manufacturing International Corporation (SMIC) during its grand opening in Shanghai November 22, 2001. Reuters pic
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WASHINGTON, Dec 18 The United States confirmed today 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 January 20.
More Chinese firms to go on US trade blacklist
2020-12-18 HKT 13:51 Share this story
Reports of more Chinese companies to be added to a US trade blacklist could further fuel Sino-US tensions. Image: Shutterstock The United States is set to add dozens of Chinese companies, including the country s top chipmaker SMIC, to a trade blacklist on Friday, two people familiar with the matter told Reuters on Thursday.
The move, which has not previously been reported, is seen as the latest in President Donald Trump s effort to cement his tough-on-China legacy. It comes just weeks before Democratic President-elect Joe Biden is set to take office on January 20.
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By Caitlin Ostroff U.S. stocks edged higher in early trading as investors monitored whether Covid-19 infections and worsening economic data would push lawmakers to cement a coronavirus aid package. The S&P 500 rose 0.1% after notching another record close Thursday. The technology-focused Nasdaq Composite Index advanced 0.3%, while the Dow Jones Industrial Average gained 26 points, or 0.1% to 30329. Top Republicans and Democrats are closing in on a coronavirus relief package that would send direct payments to many Americans, enhance unemployment benefits, provide aid to small businesses and fund distribution of the Covid-19 vaccine, among other measures. Investors have cheered the prospects of additional fiscal stimulus in recent days as high Covid-19 infections and measures to contain its spread have weighed on the economy. Data released Thursday showed that the number of workers seeking unemployment benefits had
US to blacklist dozens of Chinese firms including SMIC: Report hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.
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By Caitlin Ostroff and Gunjan Banerji U.S. stocks edged lower Friday but notched weekly gains, as investors tracked developments on a coronavirus aid package. The S&P 500 slipped 13.07 points, or 0.4% to 3709.41. The Dow Jones Industrial Average lost 124.32 points, or 0.4%, to 30179.05. The Nasdaq Composite shed 9.11 points, or 0.1%, to 12755.64. Friday s stock moves mark a pause after major U.S. indexes clinched fresh highs this week on optimism about a stimulus package. Top Republicans and Democrats have been closing in on a coronavirus relief package that would send direct payments to many Americans, enhance unemployment benefits, provide aid to small businesses and fund distribution of the Covid-19 vaccine, among other measures.