Lockheed Martin Corporation and a subsidiary of Raytheon Technologies Corp were added to a list of “unreliable entities”. Read more at straitstimes.com.
BEIJING - China imposed fines and sanctions against two US defence companies in a further escalation of tensions between the world’s two biggest economies.
China regards Taiwan as a renegade province to be reunified, by force if necessary. Beijing has long complained about the US supplying weapons to the island.over violations of its sovereignty, and on Thursday blamed the US for jeopardising ties by overreacting in the ongoing spat over a balloon.Washington contended thatwhile China claims it was a civilian airship collecting weather data that went off course.
As with previous sanctions announced against the firms and other US defence companies, these measures are likely to be largely symbolic, given both have little direct exposure to China.More On This TopicThe Chinese government will ban trade with both firms as well as blocking new investment from the two into China, the ministry said in a statement. If they don’t pay the fines within 15 days the ministry may increase the fines, the statement said.
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