Trump takes final swipe at China’s biggest companies

Trump takes final swipe at China’s biggest companies

By Justin HarperBusiness reporter, BBC News

Publishedduration18 minutes ago

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Donald Trump has taken a final swipe at China and its biggest companies, imposing more sanctions and investment bans in his last days of office.

Nine Chinese firms have been added to the Pentagon's blacklist of alleged ties to the Chinese military, including phone maker Xiaomi.

Mr Trump has ramped up action against a host of companies he believes are a security threat in recent months.

China retaliated this week with a new law aimed at protecting its firms.

Over the last few months Mr Trump has targeted Chinese technology companies he believes share personal data with its government with TikTok, Huawei and WeChat caught in the crossfire.

His latest round of restrictions announced on Thursday affect, among others, China's oil giant CNOOC and Xiaomi, which in November surpassed Apple to become the world's third-biggest smartphone manufacturer.

The US Commerce Department accused CNOOC of harassing and threatening offshore oil and gas exploration and extraction in the South China Sea.

CNOOC, which is state-owned, acted as "a bully for the People's Liberation Army to intimidate China's neighbours" said Commerce Secretary Wilbur Ross.

media captionWatch President Trump saying China could have stopped the coronavirus outbreak before it swept the world

CNOOC will