SMICY - Biden order set to ban 59 Chinese tech and defense companies

The Biden administration plans to expand Trump-era bans on Chinese defense and tech companies through a new executive order set for release today. The ban would take effect on August 2.According to Washington Post sources, the order "prevents U.S. investment from supporting the Chinese defense sector, while also expanding the U.S. government’s ability to address the threat of Chinese surveillance technology firms that contribute — both inside and outside China — to the surveillance of religious or ethnic minorities or otherwise facilitate repression and serious human rights abuses."The Biden order moves the ban list from the Defense Department to the Treasury Department because companies on the prior list, including Xiaomi, successfully challenged their inclusion in court.Biden's order continues bans on Huawei (XIACF) and Hangzhou Hikvision Digital Technology but says the companies sell surveillance tech. The Trump ban was due to alleged ties to the Chinese military.The list of 59 banned

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Biden order set to ban 59 Chinese tech and defense companies