Beijing: In a recent intensification of trade disputes between the United States and China, Beijing announced new export control measures on Thursday that affect 28 U.S. companies, with 10 of them being placed on a list that prohibits them from conducting business within the country, according to Voice of America.
The affected group primarily includes defense contractors, such as Lockheed Martin and its five subsidiaries, General Dynamics along with three of its subsidiaries, three subsidiaries of Raytheon, one subsidiary of Boeing, and several other firms.
Chinese companies are now barred from selling "dual-use" items—goods that can serve both military and civilian purposes—to any of these listed entities.
The Chinese Ministry of Commerce stated that these sanctions were implemented "to protect national security... interests and to meet international obligations like non-proliferation," as reported by VOA.
Additionally, the Ministry designated 10 companies, all subsidiaries of Lockheed Martin, General Dynamics, and Raytheon, as "unreliable entities," which subjects them to more stringent sanctions.
These sanctions entail prohibitions on the import and export of goods to and from China, limitations on new investments, and the cancellation of any work or residency permits held by the executives of these companies. Furthermore, these executives are barred from traveling to China.
The ministry defended its actions by referencing the companies' participation in arms sales to Taiwan. It highlighted that the restrictions were aimed at "protecting national sovereignty, security, and developmental interests."
Earlier in December 2024, a bipartisan coalition of US lawmakers introduced three bills aimed at addressing China's role in the US fentanyl crisis.
The proposed legislation called for the establishment of a US task force to tackle narcotics trafficking and included measures that would allow for sanctions against Chinese entities, as reported by the Voice of America.
The legislation sought to hold the Chinese Communist Party (CCP) accountable for "directly contributing to the fentanyl crisis by subsidizing precursor chemicals," according to the House of Representatives Select Committee on China, which comprises all the sponsors of the bills.
