Categories: Market Overview

The U.S. is set to add more Chinese companies to blacklist over Xinjiang: Reuters, citing sources

The Biden administration is set as early as Friday to add more than 10 Chinese companies to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang, two sources told Reuters. The U.S. Commerce Department action will follow its announcement last month adding five other companies and other Chinese entities to the blacklist over allegations of forced labor in the far western region of China. The additions to Commerce Department’s Entity List are part of the Biden administration’s efforts to hold China accountable for human rights violations, the sources said.

China dismisses accusations of genocide and forced labor in Xinjiang and says its policies are necessary to stamp out separatists and religious extremists who plotted attacks and stirred up tension between mostly Muslim ethnic Uyghurs and Han, China’s largest ethnic group.

One of the sources said the department plans to add 14 Chinese companies to the Entity List over reported abuses in Xinjiang. The identities of the companies being added were not immediately known. Some companies from other countries are also set to be added to the department’s blacklist as soon as Friday. The White House declined to comment, while the Commerce Department did not immediately respond to a request for comment.

The latest action shows President Joe Biden aims to press China over what the administration says are worsening human rights abuses against the Uyghur population in Xinjiang.

The U.S. is set to add more Chinese companies to blacklist over Xinjiang: Reuters, citing sources, CNBC, Jul 9

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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