Tencent and CATL blacklisted by Department of Defense
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The US Department of Defense blackballed Tencent (TCEHY) and battery maker Contemporary Amperex Technology Co. (CATL) (300750.SZ), adding both companies to its list of Chinese military entities that US companies are encouraged to avoid.
Morning Brief hosts Brad Smith and Seana Smith discuss the potential global ripple effects, as these companies hold major ties with automakers like Tesla (TSLA) and Volkswagen (VWAGY).
Tencent and CATL call the designation a mistake and are now challenging their inclusion and could eventually consider legal action.
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
This post was written by Josh Lynch
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