Biden order bans investment in dozens of Chinese defense, tech firms
Reuters | Jun 05, 2021 12:25 AM EDT
U.S. President Joe Biden delivers remarks on the April jobs report from the East Room of the White House in Washington, U.S (Photo : REUTERS/Jonathan Ernst)
President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors.
The move, which his administration says expands the scope of a legally flawed Trump-era order, drew anger from Beijing.
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The Treasury Department will enforce and update on a rolling basis the new list of about 59 companies, which bars buying or selling publicly traded securities in target companies, and replaces an earlier list from the Department of Defense, senior administration officials told reporters.
Read more about Biden blocks 59 Chinese companies including Huawei in amended Trump order on Business Standard. Biden s position on Trump s order has been closely watched by Wall Street and Capitol Hill.
United States places investment ban on several major Chinese companies like Huawei and SMIC gizmochina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gizmochina.com Daily Mail and Mail on Sunday newspapers.