Biden Orders Ban on 59 Chinese Defense and Tech Firms; New order expands the previous Trump prohibition list

Epoch Times ^ | 06/03/2021 | Emel Akan

[SeekAndFind]

WASHINGTON—President Joe Biden signed an executive order on June 3, amending a Trump-era ban that prohibits U.S. investors from investing in Chinese military companies. The new order expands the previous prohibition list by adding more Chinese defense and surveillance technology firms.

The order also moves the authority of selecting targeted companies to the Treasury Department from the Defense Department.

Biden’s order expands the scope of the national emergency declared by then-President Donald Trump last year and bans more companies involved in “the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse.”

The order “prohibits United States persons from engaging in the purchase or sale of any publicly traded securities” of 59 entities listed in the annex of the executive order.

Blacklisted companies include telecoms equipment maker Huawei, video surveillance manufacturer Hikvision, aerospace firm Aviation Industry Corp. of China, and state-run mobile operators China Mobile and China Telecom.

The Treasury Department will continue to update the list of these Chinese entities. The selection will be determined by the Treasury secretary in consultation with the secretary of state and, if deemed appropriate, the Defense secretary, according to a White House factsheet.

The ban list doesn’t mention subsidiaries of these companies as the list is “intentionally targeted and scoped,” according to the factsheet.

The Trump administration targeted 44 Chinese military companies and intended to include publicly traded subsidiaries that were “50 percent or more owned” or “determined to be controlled” by those companies.

The new order, however, shrinks the scope of the ban by excluding subsidiaries.

The investment prohibitions will take effect on Aug. 2, but investors are permitted to make trades to divest their holding until June 3, 2022.

[farmguy]

Banned!!!

(until they’re willing to give the ‘big guy’ his 10%)

[No_Mas_Obama]

Exactly. Could also be President Klain is forcing Hunter into China payola rehab (after he’s done with his latest drug rehab) to protect his own power. The Kamala people have been acting up and Sleepy Joe may soon find himself in the Big Sleep.

[Richard Axtell]

So, will the Chinese call in their marker on Joe? What they bought, they own. This is a phony smokescreen at best.

[jacknhoo]

“The order also moves the authority of selecting targeted companies to the Treasury Department from the Defense Department.“.

_____________________

Seem the two should both be involved.

[BAN-ONE]

Considering the Clintonistas handed over W88 / MIRV technology...

I wonder what they got from obiden?

[mosesdapoet]

What about this source ?

[toddausauras]

Yeah cause those kinds of transactions will be visible and also scrutinized by the mainstream media... not!

[mosesdapoet]

What about this source ?

[rxh4n1]

“The new order, however, shrinks the scope of the ban by excluding subsidiaries.” There it is, one of those “loopholes” the corrupt Dems love to create and then bitch about.

[lodi90]

Dems are moderating with an eye towards the midterms. There will be no court packing, etc. That was just GOTV red meat for both sides.

[WinstonSmith1984]

Well, there is corruption fighting corruption trying to blackmail while simultaneously trying not to be exposed... the end state is not good for any of us. I think it is time to ask the DOJ to file charges against those who were in on the fraud and explain the election fraud to the people of the United States so that we can hold on to our Republic. The only question is...is there one honorable attorney working at the DOJ in Washington DC...just one who is actually honest?

[frank ballenger]

Chinese: No liking our dilapidating relationship with Zho Baidin. Very small happiness now. Bad omens in heavens.

[Trump Girl Kit Cat]

Answer to your question is NO not NO BUT HELL NO!! Obama made sure our entire government was weaponized before he left office!!

[SeekAndFind]

RE: What about this source ?

What’s wrong with this source?

[null and void]

EVERYTHING obama biden does either:

a) Weakens America/Americans
b) Distances America's allies
c) Strengthens America's enemies
d) Attacks Christianity
e) Serves islam
f) Harms Israel
Or some combination of the above.

Is zatso???

The Navy, that's the US Navy, not PLAN already has 500 commie Chinese built drones in active inventory!

Pentagon report clears use of drones made by top Chinese manufacturer

The government wants to disarm us after 245 yrs 'cuz they plan to do things we would shoot them for!

At no point in history has any government ever wanted its people to be defenseless for any good reason ~ nully's son

The biggest killer of mankind

Nut-job Conspiracy Theory Ping!

To get onto The Nut-job Conspiracy Theory Ping List you must threaten to report me to the Mods if I don't add you to the list...

[Nifster]

At least there are no more mean tweets

(Hurl)

[Joe 6-pack]

"Biden Orders Ban on 59 Chinese Defense and Tech Firms..."

...Meanwhile Hunter is actively courting #60.

[Tolerance Sucks Rocks]

Excluding the subsidiaries of the companies is clever. For all I know, subsidiaries may produce most of the products.

I’d add the subsidiaries back in, then tariff everything coming out of China at 25%, expanding upon Trump’s tariffs.

JMO.

PING!

[Tilted Irish Kilt]

Tolerance Sucks Rocks :" I’d add the subsidiaries back in, then tariff everything coming out of China at 25%, expanding upon Trump’s tariffs.
JMO."

I like it, but, it sounds like a simple solution, but there's a wrinkle in it.
Would that tariff include 'API's (active pharmaceutical ingredients), that is the basic ingredients of most of our medications ? (Approx. 70-80%)
The Chinese 'got their panties in a twist', they threatened our medication imports, which got everyone's surprised attention.

News source: https://freebeacon.com/policy/tom-cotton-debuts-plan-to-take-pharma-production-back-from-china/

"Sen. Tom Cotton (R., Ark.) introduced legislation Thursday to repatriate pharmaceutical manufacturing from China to America,
aiming to reduce a dependency that could seriously limit the U.S. coronavirus response.
The bill, which Cotton introduced with Rep. Mike Gallagher (R., Wis.), aims to severely curtail the volume of Chinese active pharmaceutical ingredients (APIs)
from the U.S. medical drug supply.
The PRC currently produces most of the world's APIs—the "active ingredients" in commonly used drugs
—leaving the United States and other nations critically dependent on it for medicines."