Beijing (PingWest)—The Trump administration on Thursday added nine Chinese firms to a blacklist of alleged Chinese military companies, including planemaker Comac and mobile phone maker Xiaomi, according to a document seen by Reuters.
The companies will be subject to a new US investment ban which forces American investors to divest their holdings of the blacklisted firms by Nov. 11, 2021, according to Reuters' report.
The expanding blacklist is part of a bid by President Donald Trump to cement his tough-on-China legacy in the waning days of his presidency.
It was mandated by a 1999 law requiring the Defense Department to compile a catalogue of companies owned or controlled by the Chinese military. The Pentagon, which only began complying this year, has so far added 35 companies, including oil giant CNOOC and China’s top chipmaker SMIC.
In November, Trump sought to give the law teeth by signing an executive order banning U.S. investment of the blacklisted firms.
The Chinese consumer electronics company has been on a huge international expansion drive over the past few years, launching its products in India, Europe, and other parts of the world. It has not officially entered the US, but its cost-effective electronic products including table lamps, electric scooters, and security cameras are selling well in the country.