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Notice 13959NoticeTrump 47 · R Quiet signal

Presidential Notice 13959

Continuation of the National Emergency With Respect to the Threat From Securities Investments That Finance Certain Companies of the People's Republic of China

This notice continues for one year the national emergency declared by Executive Order 13959 on November 12, 2020, and expanded by Executive Order 14032 on June 3, 2021, regarding securities investments that finance certain Chinese companies linked to the PRC's military-industrial complex and surveillance technology sector. The continuation maintains existing investment restrictions and sanctions authorities under the International Emergency Economic Powers Act.

Federal Register Open PDF 90 FR 50739

Impact dates

  1. Continued national emergency expires unless extended again

  2. Original emergency expiration date; continuation extends beyond this date

Market exposure

Policy exposure mapping — not investment advice. Illustrative public companies are incomplete and not recommendations.

Sectors

Technology & softwareDefense primesSemiconductorsAerospace

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • ProtectiveDomestic producer — US defense and technology firms benefit from reduced competition for capital and technology from PRC military-linked companies
  • AdverseImporter — US entities prohibited from purchasing securities of designated Chinese companies, restricting portfolio diversification and market access
  • AdverseTrading-partner exporter — Chinese companies in military-civil fusion and surveillance technology sectors lose access to US capital markets and index inclusion

Geographies

USCN

Exposure dates

  • — Continued national emergency expires unless extended again

Illustrative public companies

Curated watchlist matches by sector/role — incomplete; not a recommendation.

EADSYAirbusGOOGLAlphabetAAPLAppleBABoeingGEGE AerospaceGDGeneral DynamicsHONHoneywellINTCIntelQQQInvesco QQQ TrustLMTLockheed MartinMETAMeta PlatformsMUMicron TechnologyMSFTMicrosoftNOCNorthrop GrummanORCLOracleRTXRTXSPYSPDR S&P 500 ETFTSMTSMC

Confidence: high · Policy alerts

Key directives

  • Continue national emergency declared in EO 13959 for 1 year beyond November 12, 2025
  • Publish notice in Federal Register
  • Transmit notice to Congress

Timeline

Immediate

  • Continuation of national emergency takes effect upon publication
  • Existing investment prohibitions under EO 13959 and EO 14032 remain in force

Near term (90d)

  • Annual congressional notification completed
  • Federal Register publication

Long term

  • Emergency authority persists through November 12, 2026 unless terminated or extended again
  • Ongoing compliance obligations for financial institutions regarding restricted securities lists

Risks & tensions

  • Potential escalation of US-China financial decoupling if scope expands further
  • Uncertainty for investors regarding potential additions to restricted entity lists
  • Tension between national security objectives and market access principles
  • Vague scope of 'certain companies' creates compliance uncertainty for financial institutions
Presidential Notice 13959: Continuation of the National Emergency With Respect to the Threat From Securities Investments That Finance Certain Companies of the People's Republic of China · Executive Orders