China said on Thursday it was adding dozens of US companies to its export control list to “protect national security and interests”.
According to the report, China's Commerce Ministry said it would impose sanctions on 28 US entities and also ban the export of dual-use goods to listed companies from Thursday. Global Times, a Chinese daily considered aligned with Beijing, and The state-run Xinhua news agency. Dual-use items refer to items that can be used for civilian or military purposes.
China also approved 10 defense companies on Thursday for military sales to Taiwan, the ministry said, according to AFP, adding them to China's “list of untrusted entities” across the self-ruled island. Has gone.
The move comes as Beijing prepares for the return of President-elect Donald Trump to the White House and amid an escalating back-and-forth after the Biden administration stepped up its sanctions on Chinese companies. During his presidential campaign, Trump raised the idea of imposing tariffs of up to 60% on all Chinese goods.
China last month Said It was investigating US microchip maker Nvidia over possible violations of Chinese anti-monopoly laws.
Nevertheless, some analysts believe that tit-for-tat measures are unlikely to escalate to some dangerous actions.
“Changes to immigration, trade, and fiscal policy under a second Trump administration will likely be meaningful, but will fall short of some dramatic proposals,” Goldman Sachs economic research analysts said in a recent report. “We expect tariffs on imports from China and autos, but not a universal tariff, which would have economic and political risks that we think the White House would prefer to avoid.”
This action of China has come to light less than a week after this. placed Sanctions on seven companies in response to recently announced US military sales and aid to Taiwan,
Still, sanctions by Beijing targeting a US defense company have limited impact, as US military companies do not sell arms or other such goods to China.
Contributed to this report.