US adds Chinese chipmaker, oil giant to security blacklist

[Omaha Steve]

Source: AP

By JOE McDONALD

BEIJING (AP) — The U.S. government has stepped up a feud with Beijing over security by adding China’s biggest maker of processor chips and a state-owned oil giant to a blacklist that limits access to American technology and investment.

Thursday’s announcement adds to steps taken by President Donald Trump against China since losing his reelection bid Nov. 3. Political analysts have said Trump was likely to take further action before President-elect Joe Biden takes office Jan. 20.

The Pentagon added four companies including Semiconductor Manufacturing International Corp. and China National Offshore Oil Corp. to a list of entities deemed to be part of efforts to modernize the ruling Communist Party’s military wing, the People’s Liberation Army. That raises the total number of companies on the blacklist to 35.

On Friday, the Chinese foreign ministry accused Washington of abusing national security arguments to handicap fledgling Chinese industrial competitors.



FILE - In this Nov. 9, 2017, file photo, an American flag is flown next to the Chinese national emblem during a welcome ceremony for visiting U.S. President Donald Trump outside the Great Hall of the People in Beijing. U.S. and Chinese trade envoys discussed strengthening coordination of their government’s economic policies during a phone meeting, the Ministry of Commerce announced. (AP Photo/Andy Wong, File)


Read more: https://apnews.com/article/joe-biden-donald-trump-technology-beijing-china-987af9f977098906f5d71b9ef325b85f

[DFW]

1. I was wondering why Texas Instruments was up 20 points lately

This now makes sense.