The US blacklisted two more Chinese companies

-Trump took action against Xiaomi and CNOOC

-Canceled some apps earlier

Washington Dated 15th January 2021 Friday

There are now five days left in the run-up to US President Donald Trump's departure. In the process, he cracked down on two more Chinese companies.

Trump blacklisted Chinese smartphone maker Xiaomi Corp. and China's state-owned oil company China National Offshore Oil Corporation (CNOOC). Earlier, Trump also banned dozens of Chinese apps.

According to a report by news agency Bloomberg, the United States, the China National Offshore Oil Corporation, which researches oil in deep water, said the company could no longer take advantage of any US technology without permission. Earlier, the Trump administration banned 60 Chinese companies in 2020.

This is a major step taken by Trump before the newly elected president joins Biden. The Trump administration has accused the companies of being linked to the Chinese military and its spies. Trump was believed to have taken the step in the wake of tensions created by China in the South China Sea.

XIAOMI is now one of the nine companies blacklisted by the US Department of Defense. Other blacklisted companies include Commercial Aircraft Corp of China Limited (COMAC), a Chinese state-owned company that makes narrow body planes. Through this company, China wanted to compete with Boeing and Airbus.

Trump signed an executive order. The gist of the order was that US investors should withdraw their capital from Chinese companies blacklisted by the US Department of Defense by November 2021.

However, China hoped that if Biden came to power, some of the companies banned by Trump would be lifted.