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| America is adding SMIC and other Chinese giants to its blacklist |
Last Thursday, Trump managed to add SMIC, China's largest chip maker, to
the Chinese military's blacklist of the oil giant CNOOC. This could
exacerbate tensions with Beijing's president-elect (Biden) waiting for him.
The Ministry of Defense decided that four other companies are owned or controlled by the Chinese military, including China Building Technology Corporation and China International Engineering Consulting Corporation.
This brings the total number of companies listed on the blacklist to 35. Although the listing does not imply any sanctions, Republican President Donald Trump's recent order will prevent US investors from buying shares in publicly traded companies. Black by the end of next year.
And the Chinese embassy in Washington cited the speech delivered by a foreign ministry spokesman earlier to Reuters, in which he said that "China is strongly against the politicization of Chinese companies."
SMIC said in a statement to the stock exchange that it strongly opposes the US Department of Defense decision, which reflects the US government's misunderstanding regarding the end use of its business and technology. The company also said: The listing will not have much impact.
The minimum wage - which relies heavily on equipment from US suppliers - has become a goal of the US government. In September, the US Department of Commerce announced to some companies that they would need a license before they could provide products and services to SMIC because they believed that the equipment provided to them could be used for military purposes, at unacceptable risk.
The expanded blacklist was seen as an attempt to cement Trump's hard-line tradition on China, and included part of Biden, the democratically elected president who took office on Jan.20, amid Beijing's hard-line stance in the center of opposition to the Chinese mood. Democrats and Republicans in the US Congress.
The measure against the minimum wage is also part of Washington's larger effort to target Beijing as the company is using new civilian technologies for military purposes.
It should be noted that the list of "Chinese Communist Party Soldiers" was approved in 1999 under a formal law requiring the Pentagon to compile a list of companies owned or controlled by the People's Liberation Army. In November last year, the White House issued an Executive Order to continue using the list by prohibiting US investors from purchasing blacklisted securities starting in November 2021.
Congress and the Trump administration are increasingly trying to restrict Chinese companies 'access to US markets that violate US competitors' rules, even if that means fighting Wall Street.
On Wednesday, the US House of Representatives passed legislation banning Chinese companies from entering US exchanges if they fail to fully comply with the country's auditing rules. This represents another threat to Trump to Beijing and prevents Beijing from leaving office. Tool threatened Beijing.