US Blacklists Tencent and CATL Amid Tech Tensions

In early 2025, the US Department of Defense slapped Chinese tech giants Tencent and CATL onto its military-linked firms list, expanding to 134 companies under the Mac Thornberry NDAA FY2021. Tencent shares tumbled 6.5% in Hong Kong, while CATL dipped over 3%. Both companies denied the claims, with Tencent calling it a 'mistake' and CATL gearing up to contest the move. This escalation is a key front in the US-China tech rivalry, targeting China’s military-civil fusion strategy and stirring global supply chain jitters.