Biden has blacklisted more Chinese firms than Trump – Bloomberg
The White House has blacklisted more Chinese entities and individuals under Joe Biden’s administration than it did during Donald Trump’s presidency, as the long-running trade spat between the two nations continues to escalate, Bloomberg reported on Friday.
The US Department of Commerce added eight Chinese companies to its export blacklist in February, taking Biden past Trump’s record. Six more were added this week, bringing the tally of new targets under the current administration to 319. Some 306 entities were blacklisted by the department during Trump’s presidency.
The trade war between the world’s two biggest economies has been escalating since 2018, when Trump began imposing massive tariffs on Chinese goods imported by the US during his term in office. The Republican leader justified the measures by accusing Beijing of adopting unfair trade practices and intellectual property theft.
Biden has continued the tough stance on trade with China. He not only left in place tariffs imposed by his predecessor, but also increased the pressure, focusing on restrictions that block access to innovation, including those in the artificial intelligence sector.
Chinese authorities have decried Washington’s policies, calling the restrictions an attempt to thwart the development of the worlds’ second biggest economy.
Earlier this week, Chinese Ministry of Commerce spokesman He Yadong said export controls imposed by the US are “typical economic coercion and unilateral bullying behavior.”
“The US should immediately correct its wrongdoings and stop the unreasonable suppression of Chinese companies,” He said, adding that Beijing would defend its legal rights and the interests of the country’s businesses.
On Thursday, the Chinese Foreign Ministry announced sanctions against US defense industry firms General Atomics Aeronautical Systems and General Dynamics Land Systems over arms sales to Taiwan, accusing Washington of continuing to “undermine its sovereignty.”
