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132

China sanctions 20 U.S. defense companies and 10 executives over massive arms sales to Taiwan (www.nbcnews.com)

submitted 1 day ago by MicroWave@lemmy.world to c/world@lemmy.world

9 comments fedilink hide all child comments

The move followed the announcement of a U.S. arms-sale package valued at more than $10 billion that drew an angry response from China, which claims Taiwan as its own.

Beijing imposed sanctions on Friday against 20 U.S. defense-related companies and 10 executives, a week after Washington announced large-scale arms sales to Taiwan.

The sanctions entail freezing the companies’ assets in China and banning individuals and organizations from dealing with them, according to the Chinese foreign ministry.

The companies include Northrop Grumman Systems Corporation, L3Harris Maritime Services and Boeing in St. Louis, while defense firm Anduril Industries founder Palmer Luckey is one of the executives sanctioned, who can no longer do business in China and are barred from entering the country. Their assets in the East Asian country have also been frozen.

The announcement of the U.S. arms-sale package, valued at more than $10 billion, has drawn an angry response from China, which claims Taiwan as its own and says it must come under its control.

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[–] Buffalox@lemmy.world 2 points 18 hours ago (1 children)

Whether they deliver to China is completely irrelevant in that respect.
It's what they buy from China that is important. And it's also what their suppliers buy and sell to China.
China has monopolies on rare earth elements that may be very tough for some of these companies to lose access to.
Don't for a second think that USA has the upper hand in this situation, because that time has passed, on international trade China is now their equal, and on rare earth resources China has a very decisive upper hand.
For instance the very powerful magnets needed for much high tech equipment, is near impossible to make in quantity without access to rare earth minerals that China control.

[–] AngryCommieKender@lemmy.world 1 points 10 hours ago

Looks like some "independent" corporations will need to make some rare earth pizza ovens then, since they applied them to corporations, and not the US as a whole. As I said, performative. Looks like China is trying to get trump to apply a ton of tarrifs, so that they have cassus belli, or reasons to continue the trade war.