Friday, December 3, 2021

US adds a dozen Chinese companies to its trade blacklist - CNN

Last updated Thursday, November 25, 2021 05:54 ET , Source: TopWireNews

Hong Kong/Washington (CNN Business)The Biden administration is piling more pressure on Chinese companies it claims could undermine US national security.
The US Commerce Department on Wednesday added a dozen Chinese companies to a trade blacklist, saying that some of the firms have supported the modernization of China's army.
US officials called the move part of an effort to prevent emerging US technologies from being used for quantum computing efforts that would support China's military, such as "counter-stealth and counter-submarine applications."
The Commerce Department also cited concerns about China's "ability to break encryption or develop unbreakable encryption." And it said that several entities from China and Pakistan were added to the list for contributing to Pakistan's nuclear activities or ballistic missile program.
Tensions between the United States and China that escalated under former President Donald Trump have continued to simmer under President Joe Biden. And despite a recent first virtual summit with President Xi Jinping, and collaboration on the climate crisis and oil reserves, his administration has so far done little to wind down the pressure on Beijing.
In April, the Biden administration added seven Chinese businesses with ties to the military to the list that restricts US firms from dealing with the companies. At the time, the Commerce Department said those companies operated in the field of supercomputing and have helped the Chinese government...

Read Full Story: https://www.cnn.com/2021/11/25/tech/us-chinese-companies-trade-blacklist-intl-hnk/index.html

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