Donald Trump blacklisting jolts China’s ambitions to take on Boeing
A U.S. move to increase pressure on Chinese companies could threaten the nation’s ambitions to compete with Boeing Co. and Airbus SE.
The Trump administration’s addition of Commercial Aircraft Corp. of China, better known as Comac, to a Defense Department list of companies with alleged Chinese military ties comes just days after a breakthrough in the state-backed jet manufacturer’s effort to win customers when an Indonesian airline agreed to buy its planes.
A spokesperson for Comac had no immediate comment.
If President-elect Joe Biden doesn’t reverse the move, American investors will be prohibited from buying securities of companies on the list, and will have to divest their holdings by November.
