US blacklists Chinese chipmaker SMIC & oil producer CNOOC over alleged military ties ...News

The Pentagon has added China’s largest chipmaker, SMIC, and oil giant CNOOC to a blacklist of alleged Chinese military companies. The move is part of broader attempts to reduce Chinese firms’ access to the US market. The US Department of Defense designated four additional companies as being owned or controlled by the Chinese military, the other two being China Construction Technology and China International Engineering Consulting. The four just added bring the total number of blacklisted firms to 35. The list didn’t initially trigger any penalties, but a recent executive order issued by President Donald Trump will prevent US investors

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