Biden bans all US investments in Huawei in response to China threat

The Biden administration has issued a new executive order that bans all US investments in 59 defense and tech firms in China.

Published Mon, Jun 7 2021 4:03 AM CDT   |   Updated Mon, Jul 5 2021 5:03 AM CDT

Americans will no longer be able to invest in 59 China-based companies as what they are developing poses a national security risk.

Biden bans all US investments in Huawei in response to China threat 01 |

President Biden has issued a new executive order that will stop 59 different defense and tech firms in China from receiving any United States investments. According to a press release from the White House, the new executive order was created to stop a continuous "threat posed by the military-industrial complex of the People's Republic of China (PRC)." The White House also said that the development of certain pieces of technology in China and its deployment in other countries poses a national security risk to the United States.

US citizens are now prohibited under the revised E.O. 13959 to make any new investments into the 59 companies listed or "engaging in the purchase or sale". All of the companies that the executive order lists are China-based companies that are involved in the development of surveillance, aviation, and more. All of which are directly linked to the military-industrial complex. The list may not even be completed yet either, as the White House has said that more companies' names could be added to the list on a "rolling basis".

Buy at Amazon

On China

TodayYesterday7 days ago30 days ago
* Prices last scanned on 11/26/2021 at 5:55 am CST - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles