InvestorQ : Why has the US imposed sanctions on 33 Chinese companies and what could be the impact?
Katherine Gonsalves made post

Why has the US imposed sanctions on 33 Chinese companies and what could be the impact?

Answer
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diksha shah answered.
3 months ago


In a nutshell the relations between the US and China have been going from bad to worse. The US Commerce Department confirmed restrictions on 33 Chinese firms from 05 June. It is a kind of economic black list. This list includes companies accused of spying on the Uighur population of Xinjiang province, where gross violation of human rights have been reported. The black list will mean restricted sales of US components to these companies. That could post a problem because many of these Chinese companies are into artificial intelligence and facial recognition and do rely on US components. The US has alleged that these companies were furthering the military agenda of China.