The Department of the Treasury‘s Office of Foreign Assets Control on Jan. 26 issued General License No. 1A, which permits Americans to continue acquiring shares in certain companies associated with “Communist Chinese Military Companies,” known as CCMCs, until May 27. The Trump administration originally set the deadline on Jan. 28.
Former President Donald Trump signed a landmark Executive Order 13959 on Nov. 12 last year, which stopped investors from purchasing or possessing shares in any company associated with a CCMC. In short, Trump ordered Americans to stop financing China’s military – the People’s Liberation Army.
Wall Street opposed Trump’s executive order, and now it has additional time to work for its repeal.