The U.S. Treasury Department postponed the effective date of the ban again.
The Biden administration announced Tuesday (18) that it has delayed by two weeks the effective date of a ban on investment in Chinese companies under former President Donald Trump, which restricted U.S. companies and individuals from investing in Chinese companies with ties to the Communist Party’s military.
Trump signed the executive order last November, which originally restricted U.S. investors from completing transactions related to blacklisted Chinese companies until Jan. 28 of this year, and the Biden administration in January postponed the effective date of the ban until the following Thursday (27), and the Treasury Department on Tuesday postponed the effective date again to the 11th of next month.
In January, at least nine companies were blacklisted by the U.S. Department of Defense for alleged ties to the Chinese Communist Party’s military, including Xiaomi Group, which filed a lawsuit against the U.S. and was recently agreed to be removed from the blacklist. Earlier reports cited Wall Street insiders as saying that the financial community has urged the Biden administration to lift the investment ban, and there are also reports that the Biden administration is reconsidering revising the criteria for listing Chinese companies as military-affiliated.
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