WASHINGTON :President Joe Biden signed an executive order on Thursday that bans U.S. entities from investing in dozens of Chinese companies with alleged ties to defense or surveillance technology sectors, a move his administration says expands the scope of a legally flawed Trump-era order.
"In addition, I find that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology to facilitate repression or serious human rights abuse constitute unusual and extraordinary threats," Biden said, using the acronym for the People's Republic of China.
"We fully expect that in the months ahead ... we'll be adding additional companies to the new executive order's restrictions," one of the senior officials said. Biden's Indo-Pacific policy coordinator Kurt Campbell said last month that a period of engagement with China had come to an end and that the dominant paradigm in bilateral ties going forward would be one of competition.
But some previously identified companies, such as Commercial Aircraft Corp of China , which is spearheading Chinese efforts to compete with Boeing Co and Airbus, as well as two companies that had challenged the ban in court, Gowin Semiconductor Corp and Luokung Technology Corp, were not included.
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