President Donald Trump signed Executive Order 14420 declaring a national emergency and restricting certain foreign-made bulk-power equipment, including critical software, firmware and remote-access capabilities, from purchase or installation in the U.S. bulk-power system on cybersecurity and operational-risk grounds. The Department of Energy has 120 days, roughly until Dec. 24, to finalize implementing rules and identify banned equipment or suppliers. Covered gear includes large substation transformers, utility-scale and grid-connected inverters, battery energy storage systems, high-voltage circuit breakers and industrial control systems, while local electric distribution facilities are excluded; the order targets transactions tied to nations under U.S. arms embargoes or sanctions and is widely read as aimed primarily at China. South Korean power-equipment shares rose—HD Hyundai Electric up 9.28% to 801,000 won, Hyosung Heavy Industries up 6.04%, LS ELECTRIC up 4.71% and Sanil Electric up 11.76%—as investors priced Korean supply-chain gains, while China's A-share inverter sector fell sharply and Sungrow Power Supply plunged more than 12% intraday. U.S. names including Eaton, Tesla, Enphase Energy and GE Vernova are among domestic suppliers investors are watching for potential demand as utilities shift from foreign vendors, though broader market weakness weighed on those stocks in Friday trading. Sungrow's 2025 overseas revenue reached 53.99 billion yuan, about 60.54% of sales, with the U.S. contributing an estimated 15%–20% in high-margin storage and large-scale solar PV inverters; Chinese firms hold roughly 56%–70% of the global inverter market.