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Biden to extend Trump's China blacklist

2021-06-03 18:47 by
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President Biden signed an executive order Thursday to prohibit investments in Chinese defense and surveillance firms that produce or use technology to facilitate human rights abuses, expanding a Trump-era order issued last year.

The new policy expands an executive order that former President Donald Trump imposed in November prohibiting U.S. investors from trading stock in companies linked to the Chinese military. Biden's executive order would extend the restrictions to additional firms that operate in China's defense or surveillance technology sectors, bringing the total number of targeted companies to 59 from 48.

Among the 59 companies barred are Aero Engine Corp. of China, Aerosun Corp., Fujian Torch Electron Technology and Huawei Technologies. The prohibitions take effect at 12:01 a.m. ET on Aug. 2.

The Biden administration has been vocal about concerns about the repression of Uyghurs and people in Hong Kong, and Biden has made clear that fighting against human rights abuses in China and elsewhere is a priority for his administration.

U.S. officials have also raised concerns with China's trade practices and actions in cyberspace. Secretary of State Antony Blinken and national security adviser Jake Sullivan met with Chinese counterparts for a tense in-person meeting in Alaska in March after Biden took office.

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