Biden administration adds more Chinese companies to trade blacklist

The US government has moved anew against Chinese companies it claims to pose threat to the country's national security.
Biden administration adds more Chinese companies to trade blacklist
US-China tensions continue. Photo from CNN

US blocks more Chinese companies

The growing tensions between the two economic powerhouses—which started under the regime of former President Donald Trump—continue as the US Commerce Department added a dozen Chinese companies to the government's trade blacklist, arguing that some of these groups have supported China's military modernization.

It also raised concerns about China's "ability to break encryption or develop unbreakable encryption."

Several units from China also contributed to Pakistan's nuclear activities, the department cited.

Global trade and commerce should support peace, prosperity, and good-paying jobs, not national security risks, US Secretary of Commerce Gina M. Raimondo said in a statement.

Aside from Chinese companies, firms from Japan, Pakistan, and Singapore were added to the blacklist.

However, the Chinese government criticized the latest move of the US.

China's embassy in Washington claimed that the US government "uses the catch-all concept of national security and abuses state power to suppress and restrict Chinese enterprises in all possible means".

Some of the Chinese companies added to the list are Hangzhou Zhongke Microelectronics Co Ltd, Hunan Goke Microelectronics (300672.SZ), New H3C Semiconductor Technologies Co Ltd, Xi'an Aerospace Huaxun Technology, Yunchip Microelectronics, Hefei National Laboratory for Physical Sciences at Microscale, QuantumCTek (688027.SS) and Shanghai QuantumCTeck Co Ltd.

Earlier this month, the US government further restricted tech giants Huawei and ZTE from doing business with American firms.

Sources: CNN, Reuters
Biden administration adds more Chinese companies to trade blacklist Biden administration adds more Chinese companies to trade blacklist Reviewed by Telenor Editorial on November 26, 2021 Rating: 5

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