Biden Order to Ban Investment in 59 Chinese Defense, Tech Firms
Voice of America
WASHINGTON - The Biden administration will issue a new executive order on Thursday that bans U.S. entities from buying or selling publicly traded securities for 59 Chinese companies with alleged ties to defense or surveillance technology sectors, senior administration officials said.
The Treasury Department will enforce and update on a "rolling basis" the new ban list, which replaces one from the Department of Defense, the officials, noting the policy would take effect on Aug. 2. The new order, which is an effort to make a similar Trump-era prohibition more legally sound, signals the administration's intent to "ensure that U.S. persons are not financing the military industrial complex of the People's Republic of China," one of the senior officials told reporters. The inclusion of Chinese surveillance technology firms expanded the scope of the previous order, the officials said.Palestinians gather at the site of an Israeli strike on a camp for internally displaced people in Rafah on May 27, 2024. Fire rages following an Israeli strike on an area designated for displaced Palestinians, amid the ongoing conflict between Israel and Hamas, in Rafah in the southern Gaza Strip, in this still picture taken from a video, May 26, 2024. Palestinians gather at the site of an Israeli strike on a camp for internally displaced people in Rafah on May 27, 2024. A member of the bomb squad of the Israeli police collects debris after a rocket fired by Palestinian militants struck in the Israeli city of Herzliya on May 26, 2024.
Georgian President Salome Zourabichvili, right, and Prime Minister Irakli Kobakhidze, left, leave a podium after marking Independence Day in Tbilisi, Georgia, May 26, 2024. Demonstrators with Georgian national and EU flags rally during an opposition protest against a foreign influence bill as they mark their country's Independence Day, in the center of in Tbilisi, Georgia, May 26, 2024.