US blacklisted Chinese companies | Free press

On January 20, President Trump’s term of office is finally over. To this end his government is taking a series of measures. It is now affecting several Chinese companies.

Beijing (AP) – A few days before the end of US President Donald Trump’s tenure, the US imposed further restrictions on Chinese companies.

For example, Chinese smartphone manufacturer Xiaomi was blacklisted by the US Department of Defense on Thursday due to alleged military connections. The company’s shares then fell by more than ten percent on the Hong Kong stock exchange.

China on Friday condemned the US actions. “The Chinese side will take the necessary steps to protect the interests of Chinese companies,” said a Beijing Foreign Ministry spokesman.

In total, the US Department of Defense has added nine Chinese companies to the list. US investors must sell stock in the company by November.

The Washington Department of Commerce has also blacklisted China’s third largest state oil company, CNOOC, making it much more difficult for US companies to do business with the company. As early as December, the US had imposed restrictions on 60 other Chinese companies.

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