President Donald Trump has made a firm stance toward China a central theme of his first term in the White House.
That trend was on display again this week when he signed an executive order targeting companies believed to have ties to the Chinese military, as reported by Just the News.
“Unintentionally providing capital”
The new order was announced on Thursday and comes after the Department of Defense released a list of 31 such firms.
As the Trump administration explained in the most recent document, China has been “increasingly exploiting United States capital to resource and to enable the development and modernization of its military, intelligence, and other security apparatuses.”
Not only does that behavior threaten “the United States homeland and United States forces overseas,” the order noted that some American investors have been unwittingly funding that military power.
In explaining the Trump order, national security adviser Robert O’Brien declared in a statement that it protected U.S. citizens “from funding Communist Chinese military companies, including those designated by the Department of Defense in June and August of 2020.”
He added that the new safeguard will keep American investors “from unintentionally providing capital that goes to enhancing the capabilities” of China’s military force.
According to O’Brien, such efforts by the hostile power “routinely target American citizens and businesses through cyber operations, and directly threaten the critical infrastructure, economy, and military of America and its allies and partners around the world.”
While the news led to the stock prices of some impacted Chinese companies taking a hit, the Wall Street Journal reported that China’s currency had surged between Election Day and the declaration of many mainstream media outlets that Democratic nominee Joe Biden had been elected president.
That rebound might have something to do with the expectation that a Biden administration would take a softer approach toward China — as the former vice president’s own rhetoric would suggest.
During a campaign stop in Iowa last year, Biden declared that China is “not competition for us” and argued that “they’re not bad folks.”
Perhaps more telling, however, are the rumors and speculation swirling around the Biden family’s international business deals including ties to Chinese firms.