US President Joe Biden has revised and expanded the sanctions list of Chinese companies created by his predecessor.
In light of the ongoing political tensions with China, US President Joe Biden expanded the sanctions list for Chinese companies. As the White House announced Thursday, additional companies have been blacklisted in connection with Chinese surveillance technology. This means that US investors will be prohibited from investing in these companies as of August 2nd.
The sanctions reportedly target companies accused of engaging in technologies that “facilitate repression or gross human rights violations.” A statement issued by Washington said that this undermines “the security or democratic values of the United States and our allies.”
Trump's first list
In November, former US President Donald Trump released a list of 31 Chinese companies believed to be supplying or supporting Chinese military and security services. Trump later added other companies.
The first list published during the Trump era included major telecommunications, construction and technology companies such as China Mobile, China Telecom and the video surveillance company Hikvision.
The Biden administration revised that list, removing some companies and adding others. It currently includes 59 Chinese companies – including many subsidiaries of companies that were already on the list.