White House banning Americans from investing in 59 Chinese defense & surveillance companies, to stop US capital from being used to help the Chinese military
Targets big Chinese groups: Huawei, SMIC, China Mobile, China National Offshore Oil Corporation, China Railway Construction Corporation, Aviation Industry Corporation of China, China National Nuclear Corporation. Ban comes into effect on August 2.
Biden is expanding the approach started by Trump, but giving Treasury control of the process and reducing role of the Pentagon ... which will produce its own list later today.