China Sanctions Boeing, General Atomics Over Taiwan Arms Sales

May 20, 2024, 02:12 AM

China's Ministry of Commerce (MOFCOM) has blacklisted several U.S. defense contractors, including General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security, from trading and investing in China. This move comes in response to these companies' involvement in arms sales to Taiwan. The sanctions, which include bans on import and export activities, were announced on the same day Taiwan inaugurated its new president. The decision underscores China's dissatisfaction with U.S. arms sales to Taiwan and is seen as a symbolic gesture, according to state media. Boeing's stock symbol is $BA.