Trump added SMIC to US’s investment blacklist
Posted On December 8, 2020
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Shanghai-based Semiconductor Manufacturing International Corp. (SMIC) and China National Offshore Oil Corp. (CNOOC) were both reportedly added to the blacklist by the Trump administration last Thursday. The list has not yet triggered any penalties but was said by Reuters to prohibit US capitalists to invest in their shares in the future. SMIC’s share price tumbled after the news was released, and it is assessing the impact of the listing.