The outgoing Trump administration is using its final days to further escalate tensions with Beijing as it blacklists more Chinese firms, including one of the biggest global smartphone makers, Xiaomi, and oil giant CNOOC.
The Department of Defense expanded the list of Chinese companies with alleged military ties once again on Thursday. Xiaomi, the Commercial Aircraft Corp of China (COMAC), as well as seven other entities, have been deemed “Communist Chinese military companies.” The move means that US investors will have to divest their stakes in the affected firms in accordance with an executive order signed by US President Donald Trump in November.
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