President Donald Trump on Tuesday signed a notice extending a national emergency regarding the threat from securities investments that finance certain companies in the People’s Republic of China. The action extends the emergency for one year beyond Nov. 12, 2026.
The extension targets ostensibly civilian Chinese companies that raise capital by selling securities to United States investors on public exchanges both in the U.S. and abroad. According to the notice, China increasingly exploits U.S. capital to resource and modernize its military, intelligence, and security apparatuses. The document states this development allows the country to directly threaten the United States homeland and U.S. forces overseas.
The notice details China’s national strategy of Military-Civil Fusion, which expands the country’s military-industrial complex by compelling civilian companies to support military activities. While remaining private and civilian in appearance, these companies aid military development, lobby U.S. index providers and funds to include their securities in market offerings, and secure access to U.S. capital.
The document notes background findings regarding threats posed by Chinese surveillance technology. The notice states that the use of Chinese surveillance technology outside the country, as well as its development or use to facilitate repression or serious human rights abuses, constitute an unusual and extraordinary threat to U.S. national security, foreign policy, and the economy.
The national emergency was initially declared on Nov. 12, 2020, under the International Emergency Economic Powers Act. An executive order in June 2021 expanded the scope of the emergency to include the surveillance technology concerns and further address the Chinese military-industrial complex. Trump extended the current measure under the National Emergencies Act, directing the notice to be published in the Federal Register and transmitted to Congress.