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ARW - Arrow Electronics Inc News Story

$101.37 2.6  2.7%

Last Trade - 05/03/21

Sector
Technology
Size
Large Cap
Market Cap £5.30bn
Enterprise Value £6.70bn
Revenue £20.64bn
Position in Universe 1078th / 6646

EXCLUSIVE-U.S. to publish list of Chinese and Russian firms with military ties

Mon 21st December, 2020 7:17pm
By Karen Freifeld
    Dec 21 (Reuters) - The Trump administration on Monday plans
to publish a list of Chinese and Russian companies with alleged
military ties that restrict them from buying a wide range of
U.S. goods and technology, said senior U.S. Commerce Department
officials.
    Reuters first reported last month that the U.S. Department
of Commerce drafted a list of companies that it linked to the
Chinese or Russian military, news that brought a rebuke from
Beijing.  urn:newsml:reuters.com:*:nL1N2I701N
    The final list does not include Commercial Aircraft
Corporation of China (COMAC), or the Hong Kong subsidiaries of
Colorado's Arrow Electronics  ARW.N  and Texas-based TTI Inc, a
Berkshire Hathaway  BRKa.N  electronics distributor, the
officials said. Those companies were on the draft list seen by
Reuters.
    The final list names 103 entities, 14 fewer than on the
draft list seen by Reuters in November. Fifty-eight are
designated under China, down from 89, and 45 entities are tied
to Russia, up from 28, one of the officials said.
    Commerce Secretary Wilbur Ross said the action establishes a
new process "to assist exporters in screening their customers
for military end users." 
    The final list is expected to be published on the Commerce
Department website on Monday and for public inspection in the
Federal Register on Tuesday, the officials said.  

 (Reporting by Karen Freifeld in New York
Editing by Chris Sanders and Matthew Lewis)
 ((karen.freifeld@thomsonreuters.com; +1(646) 223-6921;))
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