The Trump administration has added another nine companies, including smartphone maker XIAOMI, to a blacklist that blocks US investment in companies with alleged links to the Chinese military, adding to a scramble by US banks and other finance firms to make sense of restrictions that came into force last week. The ban builds on an executive order issued by US President Donald Trump in November that prohibits US investors from purchasing the securities of companies designated by the Department of Defense as owned or controlled by the Chinese military. Once a company is added to the list, US investors will be banned from dealing in its securities after 60 days and have 365 days to divest their exposure.
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