WASHINGTON: The Biden administration gave investors two more weeks to buy or sell securities in certain companies tied to the Chinese military, the US Treasury Department said in a notice posted on its website on Tuesday (May 18).
Investors now have until 9.30am on June 11 to compete their transactions, the department said. The previous deadline was May 27.
President Joe Biden’s administration has been reviewing a number of aspects of US-China policy, including a ban imposed under his predecessor Donald Trump on investments in certain Chinese companies linked to Beijing’s military.
Bloomberg News reported the delay earlier on Tuesday.
At least eight Chinese companies have been placed under such restrictions. One, Xiaomi, filed a lawsuit in response, and the US Defense Department has agreed to remove it from the banned list.
Source: Reuters
Read More
