The Trump administration is clearly planning to take further action against Chinese companies. This time, the president sought to add SMIC and CNOOC to his blacklist of suspected Chinese military companies.
According to Reuters, documents and sources have surfaced, and Donald Trump allegedly intends to blacklist the new company in relations with the Chinese government.
According to reports, the government plans to reduce contact with American investors, which may exacerbate tensions between Beijing and Washington. This also arrives before President-elect Biden takes office as the next president of the United States.
Earlier, it was reported that the Ministry of National Defense was planning to designate four other Chinese companies owned or controlled by the Chinese military.
The new blacklisted companies will bring the total number of affected Chinese companies to 35.
For those who don’t know, SMIC is China’s largest chip manufacturer, while CNOOC is a well-known offshore oil and gas producer in China.
In addition, President Trump’s recent executive order will prevent US investors from buying securities of listed companies starting next year.
Although it is not clear when the government will add these two companies to the list, the documents and three sources pointed out that SMIC (semiconductor manufacturing international company) and CNOOC (China National Offshore Oil Corporation) will be added to the federal registration soon. book.
Since then, SMIC stated that it would continue to “constructively and openly engage with the US government” and even refuted these allegations, stating that its products and services are only for civilian and commercial purposes, not military purposes.
It also added that “it has no relationship with the Chinese military and does not manufacture products for any military end users or end-uses.” SMIC is heavily dependent on equipment from US suppliers, so it may face the Trump administration’s scrutiny. Caused major obstacles in its operations.
