Source: Reuters
“The U.S. Defense Department said on Monday it has added Chinese tech giant Tencent Holdings and battery maker CATL to a list of companies it says work with China’s military, in a move set to escalate U.S.-China tensions. … Both companies called the move, which comes two weeks before U.S. President-elect Donald Trump takes office, a ‘mistake.’ Tencent said on Tuesday its business would be unaffected and that it would initiate a reconsideration process to correct its inclusion and if necessary, would undertake legal proceedings. CATL, the world’s largest electric vehicle battery maker, said it was ‘not engaged in any military-related activities.’ While the designation does not involve immediate bans, it can be a blow to the reputations of affected companies and represents a stark warning to U.S. entities and firms about the risks of conducting business with them.” (01/06/25)