Trump is targeting China’s national champions on his way out the door
The Trump administration is continuing to inflict damage on China’s prized businesses in its final weeks, with actions that could make it harder for President-elect Joe Biden to rebuild relations once he takes office.
© Li Gen/VCG via Getty Images
BINHAI, CHINA – OCTOBER 20: Workers at the construction site of a liquefied natural gas (LNG) terminal invested by China National Offshore Oil Corporation (CNOOC) on October 20, 2020 in Binhai County, Jiangsu Province of China. The first phase of Jiangsu Binhai LNG Terminal project has four same storage tanks, providing a total capacity of 880,000 cubic meters of LNG. (Photo by Li Gen/VCG via Getty Images)
The latest move came Thursday when the US Department of Defense added China’s top chipmaker SMIC, oil giant CNOOC and several other firms to a list of companies that the department claims are owned or controlled by the Chinese military. That means they’re