Chinese firm’s bid to buy US wind farms blocked
President Barack Obama, has blocked a Chinese company from building wind turbines in the US state of Oregon, citing national security concerns.
Washington: President Barack Obama, has blocked a Chinese company from building wind turbines in the US state of Oregon, citing national security concerns.
Obama ordered Ralls Corp., a company owned by Chinese nationals, to divest its interest in the wind farms it purchased earlier this year near the Naval Weapons Systems Training Facility in Boardman, Ore.
It was the first time in 22 years that a U.S. president has blocked such a foreign business deal, Fox News reports.
The Obama administration did not reveal what risks the wind farm purchases presented.
According to the report, Obama``s decision is likely to be another irritant in the increasingly tense economic relationship between the U.S. and China.
It also comes against an election-year backdrop of intense criticism from Republican presidential challenger Mitt Romney, who accuses Obama of not being tough enough with China, the report said.