Pentagon’s Botched Blacklist Highlights Frail Trump-Xi Truce
Bloomberg.com • • business
Key Points:
- The Pentagon added Alibaba Group and Baidu to a list of companies supporting the Chinese military, signaling a tough stance by Washington ahead of a summit between Presidents Trump and Xi Jinping.
- Shortly after the list was released, the US Federal Register declared it “unpublished” at the Pentagon’s request, creating confusion about the official status of the designation.
- Despite the retraction, shares of Alibaba and Baidu dropped sharply, and both companies issued statements denying any military affiliations and vowed to contest the labeling.
