Trade: U.S. blacklists more Chinese companies
The U.S. Commerce Department barred five additional Chinese entities from buying American-made products, in a move that risks inflaming tensions ahead of President Donald Trump’s planned meeting with Chinese leader Xi Jinping to restart trade talks.
The move follows the similar blacklisting of Chinese telecommunications giant Huawei Technologies Co. last month, blocking it from buying U.S. software and components that it needs to make its products.
In a statement on Friday, the Commerce Department said the entities were part of China’s efforts to develop supercomputers. It said they raised national security concerns because the computers were being developed for military uses or in cooperation with the Chinese military.
The Chinese embassy in Washington didn’t immediately respond to a request for comment.
“While Huawei gets attention, the most important sector for U.S.-China economic competition is semiconductors,” Derek Scissors, a China expert at the American Enterprise Institute, who informally advises the Trump administration……..read more