The United States is moving towards imposing sanctions on Chinese video surveillance company Hikvision (002415.SZ), the Financial Times reported on Wednesday, citing four people familiar with the talks.
The Biden administration is considering placing human rights-related sanctions on the Chinese company, according to the report.
The sanctions, if enforced, could have dire consequences for the maker of surveillance equipment, which was earlier added to a list of companies threatening U.S. national security.
Washington has already begun briefing allies, given Hikvision has customers in more than 180 countries, two of the sources told FT.
The Federal Communications Commission in March 2021 had designated five Chinese companies, including Hikvision, as posing a threat to national security under a 2019 law aimed at protecting U.S. communications networks.
China’s Huawei Technologies Co [RIC:RIC:HWT.UL], ZTE Corp (000063.SZ), Hytera Communications Corp (002583.SZ), and Zhejiang Dahua Technology Co (002236.SZ) were the others in the list.
