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Donald Trump

Trump Administration Adds 4 Chinese Companies to Pentagon Blacklist

Starting next year, U.S. investors will be prohibited from purchasing securities from companies on the blacklist

The U.S. Defense Department on Thursday added four more Chinese companies to a blacklist for being controlled or owned by the military.

These are SMIC chip manufacturer, oil giant CNOOC, as well as China Construction Technology Co Ltd (CCTC) and China International Engineering Consulting Corp (CIECC).

With these there are already 35 companies that the Pentagon, under the orders of President Donald Trump, has added to its blacklist this 2020, including Huawei, Hikvision or China Telecom.

The list is the result of a law passed in 1999, but until this year it was empty and it has been the Trump government that has designated the companies controlled or owned by the People’s Liberation Army.

Starting next year, U.S. investors will be prohibited from purchasing securities from companies on the blacklist, which until now has included no sanctions.

The executive order signed by Trump a month ago gives him until November 2021 to dispose of those currently owned.

“The President’s order serves to protect U.S. investors from unintentionally offering capital that will bolster the capacity of China’s military or intelligence services, which are routinely employed to attack American citizens and businesses through computer operations,” Robert O’Brien, White House National Security Advisor, said in a statement at the time.

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