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5/13, 7:29 AM (Source: TeleTrader)
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DoD's report on China-backed firms delayed - report

The United States Department of Defense (DoD) failed to meet the deadline to produce a report regarding the companies with alleged ties with the Chinese military, the Financial Times reported on Thursday, citing two people familiar with the matter.

The Pentagon reportedly missed the deadline, set for April 15, due to the Biden administration's dilemma on whether it should keep an executive order signed by former US President Donald Trump. The order banned US citizens from investing in Chinese companies the DoD blacklisted.

Washington's Treasury Department extended the validity of the ban to May 27 "to give the administration time to evaluate the executive order as part of an extensive review of China-related actions taken by Trump," the outlet concluded.

Breaking the News / BU