Trump Administration Adds China’s Biggest Chip Maker To Trade Blacklist For Alleged Military Ties

The U.S. Department of Defense added China’s biggest chipmaker, SMIC and major oil firm CNOOC to a trade blacklist due to their alleged ties to the country’s military, continuing the outgoing Trump administration’s crackdown on Chinese firms.

The blacklistings drew strong condemnation from Beijing and China’s foreign ministry spokeswoman, Hua Chunying, who warned that the move will severely harm the U.S.’ interest and image, according to Reuters.

Last month, President Donald Trump signed an executive order that prohibits any U.S. person from holding securities, directly or through funds, in companies...