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- Former US President Donald Trump blacklisted 31 Chinese companies during his tenure
- With some more companies being brought under the purview of the ban, the number of companies included in the blacklist has increased to 59.
- US investors are not allowed to invest money in companies whose names are on the blacklist.
Power changed in America and Donald Trump was replaced by Joe Biden, but the government’s pressure on arch-rival China remains. In fact, the Biden government on Thursday put 28 Chinese companies in the blacklist created by the previous Trump government.
American investors are not allowed to invest money in companies whose names are put on the blacklist. The US believes that the military and security equipment that these companies are providing to the Chinese government is being misused.
Trump government blacklisted 31 Chinese companies
Former US President Donald Trump had blacklisted 31 Chinese companies during his tenure over unwanted business relationships. According to the US government, these companies are supplying or supporting military equipment to China’s military and security agencies, which are being misused. With some more Chinese companies being brought under the purview of the ban, the number of companies included in this blacklist made by the US government has increased to 59.
Most of the blacklisted companies provide surveillance technology to China
Most of the companies blacklisted by the Joe Biden administration provide surveillance technology to the Chinese government. China uses the technology of those companies to suppress the voice of opponents and violates human rights, the US government alleges. It says that China’s doing this threatens the security of America and its allies and weakens their democratic values.
Telecom in blacklist, Large companies in the construction and technology sector
The US blacklist of Chinese companies includes majors in the telecom, construction and technology sectors. These include China Mobile, China Telecom, video surveillance company Hikvision and China Railway Construction Corp. The relations between the two countries have become very strained due to several steps taken by the US government against China.
China’s chargeto blacklist US government’s move politically motivated
The Chinese government had protested against the Trump government’s blacklist before some more companies were put on the US blacklist. She said that the US government’s move was politically motivated, so she would protect the rights of her country’s companies. It alleges that the Chinese companies blacklisted by the US government are ignoring the facts and real situation related to them.
Ban will disturb the normal trading system in the market, American investors will suffer
Chinese Foreign Ministry spokesman Wang Wenwin said in a routine briefing that the ban on companies would disturb the normal trading system in the market and harm the interests of investors around the world, including the US. Although the Biden government has talked about working towards improving diplomatic relations with China, but at the same time it has also said that its stance will remain tough in areas such as defense and technology.