US President Donald Trump signed an order Thursday that will ban Americans from investing in Chinese firms that could help Beijing’s military and security apparatus.
The executive order said the Chinese government obliges private firms to support these activities and through capital markets “exploits United States investors to finance the development and modernization of its military.”
The ban takes effect January 11 just days before Trump’s presidency ends and is the latest move in increasingly tense US relations with the Asian power.
Investors have until November 11, 2021 to divest any holdings in the banned companies, according to the order.
Trump declared a national emergency saying American investors are helping China “to directly threaten the United States homeland and United States forces overseas, including by developing and deploying weapons of mass destruction, advanced conventional weapons, and malicious cyber-enabled actions against the United States and its people.”
The prohibition targets a list of 31 companies, including telecoms, aerospace and construction firms, according to press reports.
[AFP]
Rice, a staple for Christmas celebrations in Nigeria, has become a luxury this year. Soaring…
Panic erupted on Saturday at a concert in Lagos when the stage collapsed during Odumodublvck’s…
The Federal Government of Nigeria has allocated ₦6,364,181,224 billion for the refurbishment and rehabilitation of…
The black market dollar to naira exchange rate for today, 22nd December 2024, can be…
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims that the 60,000 barrels per…
Manchester City finds itself in unprecedented turmoil, with relegation-level form showing little sign of improvement.…