Weekend Reads Trump will place the Chinese SMIC and CNOOC on a "black list"

11:10  30 november  2020
11:10  30 november  2020 Source:   pressfrom.com

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The Trump administration is poised to add chipmaker SMIC and offshore oil -and-gas explorer CNOOC to a list of firms blocked from American investment due to military ties, Reuters reported, in the latest U.S. swipe at Beijing before President-elect Joe Biden takes office.

The Trump administration is set to include Chinese chip maker Semiconductor Manufacturing International Corp ( SMIC ) and China National Offshore Oil Corp ( CNOOC ) into the list of companies allegedly having ties with the Chinese military, Reuters reported on Sunday, citing a document and

USA-CHINA-ARMEE-ENTREPRISES: Trump will place the Chinese SMIC and CNOOC on "black list"


WASHINGTON (Reuters) - Donald Trump's administration plans to add chipmaker SMIC and oil company CNOOC to the US Department of Defense's blacklist of companies controlled by the Chinese army or linked to it.

This measure, if confirmed, will limit the access of these companies to American investors and should fuel tensions with China a few weeks before the inauguration of President-elect Joe Biden.

Reacting to this information, China said on Monday, during a press briefing by Hua Chunying, spokesperson for the Ministry of Foreign Affairs, that it hoped that the United States would not erect barriers and obstacles to cooperation. between the two countries.

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SMIC has not received an official notice of the sanctions, has no relationship with the Chinese armed forces and does not manufacture goods for any Restrictions against SMIC would mark yet another escalation in the rising tensions between the world’s two most powerful countries. The U.S. and

China 's largest chip manufacturer's stock sank after the US revealed it could be its next trade ban target. Semiconductor Manufacturing International Corporation ( SMIC ) said it was "in complete shock and perplexity" after the Pentagon revealed it had proposed the firm be added to a government

Reuters reported this month that the Pentagon plans to add four Chinese companies to this "blacklist", which currently contains 31 other entities.

It is not immediately clear when these additions will be made.

According to a document consulted by Reuters and three sources, the new companies concerned will be Semiconductor Manufacturing International Corp (SMIC), China National Offshore Oil Corp (CNOOC), as well as China Construction Technology and China International Engineering Consulting Corp.

No comments were obtained from the US Department of Defense.

By this measure, the Trump administration intends to cement its hard line with regard to China and force Joe Biden to follow its extension against a backdrop of anti-Chinese sentiment in Congress.

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U.S. to Add China ’s SMIC , CNOOC to Blacklist , Reuters Says. The naming of well-regarded economists to fill the relatively small CEA is also a sign of how seriously the incoming administration takes the agency that under President Donald Trump was often short-staffed.

Trump no longer needs to win recounts, and he certainly doesn’t need the media on his side. They won’t be around much longer anyway. All Trump needs is to continue gathering evidence, prepare to present it to the world

This move also aims to strengthen the fight of the United States against what they see as Beijing's efforts to control companies with the aim of using civilian technologies for military purposes.

Reuters reported last week that the Trump administration was on the verge of declaring that 89 Chinese companies in various industries, including aeronautics, had ties to the military, to ban them from purchasing an array of technologies and American products.

In September, the US Department of Commerce imposed restrictions on exports to the SMIC group after concluding that there was an "unacceptable risk" that the equipment supplied could be used for military purposes.

(Alexandra Alper and Humeyra Pamuk, with Mike Stone and Cate Cadell; French version Jean Terzian and Claude Chendjou)

Trump stokes tensions with China ahead of Biden's arrival .
Sino-U.S. Relations have fallen to their lowest in decades under Donald Trump's presidency, but it is not certain that they will improve with the election of Joe Biden, who also takes a firm stance against Beijing, both in terms of trade and technology and on human rights.

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This is interesting!