U.S. Puts a Group of Chinese Companies on Trade Blacklist
Continuing to fight China over trade to the bitter end of its reign, the Trump administration has placed a clutch of tech companies from that country on a trade blacklist. Among the 77 new additions are SMIC (OTC: SMIC.Y), the largest chipmaker in the country, and drone specialist SZ DJI Technology.
The two are now on the government's Entity List, which effectively bars U.S. companies from exporting products to businesses listed on it. However, companies can apply for licenses to be exempted from this restriction.
Image source: Getty Images.
Source Fool.com
