The order applies to 31 Chinese companies that it says “enable the development and modernization” of China’s military and “directly threaten” US security.
Smartphone maker Huawei and Hikivision, one of the world’s largest manufacturers and suppliers of video surveillance equipment, are among the blacklisted companies. Some of the other companies listed, including China Telecom and China Mobile, trade on the New York Stock Exchange.
Trump’s order also bans US investors from owning or trading any securities that originate or are exposed to those firms. This includes pension funds or owning shares in the companies that are banned. Investors will have until November 2021 to divest from any of the companies.
This story is developing.