Administration of the President of the United States Donald Trump, which has only a few days left before the end of the reign, before leaving, “slammed the door”, adding to the black list nine more Chinese firmsperforming orders for the Chinese defense industry. These include the aircraft manufacturer Comac and one of the leaders in the Chinese mobile industry, Xiaomi.
According to Reuters, which got acquainted with the documentation of the State Department, in connection with the blacklisting, American investors are now prohibited from buying securities from Xiaomi and other companies that have got there. They will also need to get rid of the assets of the companies by November 11, 2021.
The Chinese Embassy in Washington, DC, Xiaomi and Comac have not yet responded to Reuters’ requests for comment. According to the news agency, the expansion of the blacklist is due to the desire of Donald Trump to consolidate a tough policy towards China in the last days of his presidency.
A 1999 law requires the US Department of Defense to maintain a directory of companies owned or controlled by the Chinese military. The Pentagon, which only began complying with the law this year, has so far blacklisted 35 companies, including oil giant CNOOC and leading Chinese chip maker SMIC. Last November, Trump tightened the law by signing a decree barring the United States from investing in blacklisted firms.
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