This morning, the Pentagon added several Chinese companies to its Section 1260H list, which identifies firms it says are linked to or supportive of China’s military. The companies included Alibaba (BABA), Baidu (BIDU), and BYD (BYDDY).
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Trade QQQ with leverageHowever, the document showing the new additions has since been removed from the Pentagon’s website. In its place is a message stating, “This Document Was Withdrawn.”
Alibaba Challenges Addition to Section 1260H List
It’s unclear why the document was taken down, although some experts speculate that President Trump didn’t want to raise tensions ahead of his April summit with Chinese President Xi Jinping, which could complicate trade or security negotiations.
“Alibaba is not a Chinese military company nor part of any military-civil fusion strategy,” said a company spokesperson in response to its addition to the list. “We will take all available legal action against attempts to misrepresent our company.”
Companies that were already on the list include Tencent (TCEHY), CATL (CYATY), and DJI.