Jan. 2 (UPI) — China’s Ministry of Commerce Thursday targeted dozens of American companies for punitive trade actions as U.S.-China tensions increase. The ministry added also 10 U.S. companies to its unreliable entities list, sanctioning them for arms sales to Taiwan.
China’s Commerce Ministry said it added 28 countries to an export-control list over national security concerns.
According to Chinese state media Xinhua citing the ministry, the companies include Lockheed Martin’s Missiles and Fire Control, Lockheed Martin Aeronautics and Lockheed Martin Missile System Integration Lab.
Other targeted companies included Raytheon Missile Systems and Boeing Defense.
The companies will be banned from China-related import or export activities, can’t make new investments in China and senior executives from the named companies will now be allowed to enter China.
They also will be banned from exporting dual-use items that can be used for both civilian and military purposes.
The Commerce Ministry said the companies’ actions undermined China’s sovereignty and territorial integrity, severely violated the one-China principle and undermined peace and stability across the Taiwan strait.
The steps China announced against the U.S. companies are part of economic tensions that led to the Biden administration expanding restrictions on 140 Chinese companies supplying dual-use items.
In December, Chinese regulators announced an investigation into Nvidia over allegations that it might be violating Chinese anti-trust law.
In a decisive move that escalates tensions between the US. and China, Beijing has banned seven major American defence and aerospace companies from operating wit
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