China imposed fresh sanctions on Lockheed and a Raytheon unit over arms sales to Taiwan, as tensions with the U.S. continued to escalate
Martin and Raytheon Missiles and Defense won’t be able to conduct trade relating to China or make any new investments in the country. China also banned senior company executives from entering China or obtaining a work permit.
The sanctions are expected to have a limited impact since American defense companies are broadly barred from making military sales to China.China will take countermeasures against American entities that undermine its sovereignty and security, Wang Wenbin, China’s Foreign Ministry spokesman, said Wednesday at a regular news conference, referring to the U.S. sanctions on Chinese companies related to the balloon incident.
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