U.S. investigates Chinese companies over export sanction issues & More News Here

Commerce Secretary Gina Raimondo testifies on Capitol Hill in Washington, D.C., U.S., February 1, 2022. Andrew Harnik/Pool through REUTERS

WASHINGTON, May 31 (Reuters) – U.S. Commerce Secretary Gina Raimondo mentioned on Tuesday the Biden administration is actively contemplating including new Chinese companies to the federal government’s financial blacklist because it investigates what it calls efforts by China to evade U.S. sanctions.

The Commerce Department’s Entity List restricts entry to U.S. exports.

Raimondo informed reporters the administration was working to “get information around bad actors in China and adding those companies to the Entity List … We are in the middle of a number of investigations.”

She added: “I don’t see us relaxing sanctions any time soon.”

China isn’t standing nonetheless, she mentioned. “They are coming up with we know new ways to evade our sanctions, setting up new (companies) and the like. We have a very aggressive and vigilant effort under way.”

She mentioned when attainable she desires to work with U.S. allies to align their commerce restrictions with U.S. export controls.

The Trump administration aggressively used the Entity List, including dozens of Chinese companies together with Huawei (HWT.UL) in 2019. It additionally added chipmaker SMIC (0981.HK) and Chinese drone producer DJI in 2020.

The Biden administration has prolonged that coverage and in November put a dozen Chinese companies on the Entity List over nationwide safety and international coverage considerations, in some circumstances citing their assist in growing the Chinese army’s quantum computing efforts.

In December, Commerce added China’s Academy of Military Medical Sciences and its 11 analysis institutes to the Entity List.

Raimondo cited a current report that Apple Inc (AAPL.O) was contemplating shifting some manufacturing out of China. “I’ve heard that same thing from numerous other American manufacturing companies, many of whom have been manufacturing in China for decades,” she mentioned.

In February, the Commerce Department added 33 Chinese entities to its “unverified list” which requires U.S. exporters to undergo extra procedures earlier than delivery items to the entities.

China’s embassy in Washington mentioned final 12 months the United States “uses the catch-all concept of national security and abuses state power to suppress and restrict Chinese enterprises in all possible means.”

Reporting by David Shepardson in Washington
Editing by Matthew Lewis

Our Standards: The Thomson Reuters Trust Principles.

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