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The White House on Thursday issued an executive order banning U.S. investment in a few dozen Chinese companies that it said have ties to the People’s Liberation Army, underscoring the administration’s drive to continue severing China links before President Trump’s term ends in January.
Beginning Jan. 11, the order prohibits any U.S. citizens or funds from making new investments in companies deemed by the Pentagon and other federal agencies to support China’s military. They have until November 2021 to sell existing shareholdings.
China “is increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses, which continues to allow the PRC to directly threaten the United States homeland and United States forces overseas,” the Trump order said.
