Under the new law, public companies ownership will have to be disclosed.
America blacklisted dozens of Chinese companies
Earlier, the Trump administration has blacklisted dozens of companies in China. It also includes well-known companies such as chipmaker SMIC and Chinese drone manufacturer SZ DJI Technology Company Limited. The move is being seen as Republican Trump’s renewed effort to shine his image in the long-drawn battle between Washington and Beijing over trade and several economic issues. The US Department of Commerce said that action has been taken against SMIC because Beijing is exploiting civilian technology for military purposes and the concern arising from it cannot be ignored.