Biden expands Chinese tech and military blocklist to 59 companies
(2021/06/04)
- Reference: 1622834653
- News link: https://www.theregister.co.uk/2021/06/04/biden_expands_blocklist/
- Source link:
US president Joe Biden has issued an executive order to expand the Trump-era ban preventing Chinese tech and defence companies from receiving American investment, upping it from 31 to 59 named entities.
The increase goes into effect August 2, officials said. Funds that currently have investments in banned companies or debt issued by them will have one year to make changes before penalties are issued.
In the [1]order , Biden said additional steps were necessary to address “the threat posed by the military-industrial complex of the People’s Republic of China (PRC) and its involvement in military, intelligence, and security research and development programs, and weapons and related equipment production under the PRC’s Military-Civil Fusion strategy.”
[2]US-based hard disk drive suppliers face further scrutiny over whether they've shipped proscribed HDDs to Huawei
[3]'Chinese wall'? Who uses 'Chinese wall'? Well, IBM did, and it actually means 'firewall'
[4]Xiaomi grows fast, warns chip shortages will impact product releases
[5]Xiaomi a comeback story: Mobile firm's stock up 10% after it slides off US blocklist
Biden also addressed Chinese [6]surveillance technology and its use in human rights abuse against Muslim minority group the [7]Uighurs and global dissidents:
In addition, I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats, which have their source in whole or substantial part outside the United States, to the national security, foreign policy, and economy of the United States, and I hereby expand the scope of the national emergency declared in Executive Order 13959 to address those threats.
While Trump’s list was compiled by the Pentagon, the new list was compiled by the Treasury Department, which is more experienced at issuing sanctions, in hopes that any courtroom challenge to the ban would have less merit.
Administration officials have said the list of entities US firms are forbidden to trade with (without a specially issued licence) is likely to grow. ®
[8]
Get our [9]Tech Resources
[1] https://www.whitehouse.gov/briefing-room/presidential-actions/2021/06/03/executive-order-on-addressing-the-threat-from-securities-investments-that-finance-certain-companies-of-the-peoples-republic-of-china/
[2] https://www.theregister.com/2021/05/12/us_hdd_export_probe/
[3] https://www.theregister.com/2021/04/12/ibm_biased_terminology/
[4] https://www.theregister.com/2021/03/26/xiaomi_fy_2020/
[5] https://www.theregister.com/2021/03/15/xaiomi_slides_off_us_blacklist/
[6] https://www.theregister.com/2017/07/24/china_installing_mobile_spyware/
[7] https://www.theregister.com/2020/12/12/in_brief_ai/
[8] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_security/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YLqif96czgTk7K2Hg1EhpQAAAIA&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[9] https://whitepapers.theregister.com/
The increase goes into effect August 2, officials said. Funds that currently have investments in banned companies or debt issued by them will have one year to make changes before penalties are issued.
In the [1]order , Biden said additional steps were necessary to address “the threat posed by the military-industrial complex of the People’s Republic of China (PRC) and its involvement in military, intelligence, and security research and development programs, and weapons and related equipment production under the PRC’s Military-Civil Fusion strategy.”
[2]US-based hard disk drive suppliers face further scrutiny over whether they've shipped proscribed HDDs to Huawei
[3]'Chinese wall'? Who uses 'Chinese wall'? Well, IBM did, and it actually means 'firewall'
[4]Xiaomi grows fast, warns chip shortages will impact product releases
[5]Xiaomi a comeback story: Mobile firm's stock up 10% after it slides off US blocklist
Biden also addressed Chinese [6]surveillance technology and its use in human rights abuse against Muslim minority group the [7]Uighurs and global dissidents:
In addition, I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats, which have their source in whole or substantial part outside the United States, to the national security, foreign policy, and economy of the United States, and I hereby expand the scope of the national emergency declared in Executive Order 13959 to address those threats.
While Trump’s list was compiled by the Pentagon, the new list was compiled by the Treasury Department, which is more experienced at issuing sanctions, in hopes that any courtroom challenge to the ban would have less merit.
Administration officials have said the list of entities US firms are forbidden to trade with (without a specially issued licence) is likely to grow. ®
[8]
Get our [9]Tech Resources
[1] https://www.whitehouse.gov/briefing-room/presidential-actions/2021/06/03/executive-order-on-addressing-the-threat-from-securities-investments-that-finance-certain-companies-of-the-peoples-republic-of-china/
[2] https://www.theregister.com/2021/05/12/us_hdd_export_probe/
[3] https://www.theregister.com/2021/04/12/ibm_biased_terminology/
[4] https://www.theregister.com/2021/03/26/xiaomi_fy_2020/
[5] https://www.theregister.com/2021/03/15/xaiomi_slides_off_us_blacklist/
[6] https://www.theregister.com/2017/07/24/china_installing_mobile_spyware/
[7] https://www.theregister.com/2020/12/12/in_brief_ai/
[8] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_security/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YLqif96czgTk7K2Hg1EhpQAAAIA&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[9] https://whitepapers.theregister.com/
Xenophobic or not ?
Anonymous Coward
Those on the left need to stand up and cancel Old Man Joe for this obvious xenophobic stance ?
Guess what we found!
This could shape up into some fun. So, wonder if this means Daszak's EcoHealth Alliance will no longer be allowed to be the bagman between the US NIH (Mr Fauci, your bus is waiting) and China's virology labs. Which may or may not have been using the money to do gain-of-function research that had been illegal in the US. Daszak already seems to have been in the queue ahead of Fauci.
I guess his is one way to test competing conspiracy theories though. If there's truth, then China might leak something more embarassing. If there's not, Fauci et al still have some explaining to do around off-shoring bioweapon related research to a 'hostile' foreign power via an intermediary 'charity' that supposedly worked to prevent biosecurity threats, not promote them.
Otherwise, it seems more of the same. The US taking a view that sanctions will harm China more than it will US companies that rely on Chinese industries and labour. Especially given China's probably got a very good handle on likely US inventories and lead-times for critical components.