Trump signs order to block U.S. investment in 'Communist Chinese military companies'

President Trump today signed an executive order seeking to prohibit U.S. investment that could benefit "Communist Chinese military companies."

The order, according to a statement from national security adviser Robert O'Brien, is meant to target U.S. investments that could unintentionally boost China's military.

"Many of these companies are publicly traded on stock exchanges around the world, and individual investors in the United States can unknowingly provide funds to them through passive institutional investment vehicles such as mutual funds and retirement plans," he said. "The president's action serves to protect American investors from unintentionally providing capital that goes to enhancing the capabilities of the People's Liberation Army and People's Republic of China intelligence services, which routinely target American citizens and businesses through cyber operations, and directly threaten the critical infrastructure, economy, and military of America and its allies and partners around the world."

Trump's order is set to go in effect Jan. 11.

President-elect Biden is scheduled to be inaugurated Jan. 20.