ExecutiveOrdersEO
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

Defense & SecurityDefense & SecurityEconomy & LaborEconomy & LaborTradeTrade

In simple terms

President Biden continues for one year the national emergency declared in EO 13959 (November 12, 2020) and expanded by EO 14032 (June 3, 2021), which restricts U.S. investments in Chinese companies linked to the PRC's military-industrial complex and surveillance technology sector. The continuation notice maintains existing sanctions and investment prohibitions beyond their scheduled expiration date of November 12, 2026.

Federal Register Open PDF 91 FR 69953

Record & deadlines

  1. Signed

    Signed by the President

  2. FR published

    Published in the Federal Register · 91 FR 69953

    Federal Register PDF
  3. In 7d

    Original expiration date of national emergency; continuation takes effect

  4. Continuation expires unless further extended

Market exposure

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

Sectors

Technology & softwareDefense primesAerospaceSemiconductorsOther industrial

Mechanisms

Ban / prohibitionLicensing

Role pressure

  • ProtectiveDomestic producer — U.S. defense and tech firms face reduced competition from PRC military-linked companies denied U.S. capital access
  • AdverseImporter — U.S. investors and funds must divest or avoid Chinese securities on restricted lists; compliance costs persist
  • AdverseTrading-partner exporter — PRC companies on restricted list lose access to deep U.S. capital markets and index inclusion

Geographies

USCN

Exposure dates

  • — Original expiration date of national emergency; continuation takes effect
  • — Continuation expires unless further extended

Illustrative public companies

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

MMM3MEADSYAirbusGOOGLAlphabetAAPLAppleBABoeingCATCaterpillarFCXFreeport-McMoRanGEGE AerospaceGEVGE VernovaGDGeneral 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, 2026
  • Transmit notice to Congress
  • Publish notice in Federal Register

Related orders

What to expect

Immediate

  • National emergency continues in effect; existing investment restrictions remain active

Near term (90d)

  • Notice transmitted to Congress
  • Published in Federal Register

Long term

  • Emergency authority extends through November 12, 2027 unless terminated or extended again

Risks & tensions

  • Maintains bipartisan China hardline posture with minimal policy innovation
  • Perpetual emergency status normalizes IEEPA use for investment screening
  • Potential market uncertainty for investors holding restricted Chinese securities
  • No new entity designations or scope changes in this notice—pure maintenance
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