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China Sanctions Three U.S. Defense Contractors, Including Boeing ($BA), Over Taiwan Arms Sales

May 20, 2024, 05:08 AM

China's Ministry of Commerce has announced the imposition of sanctions against three U.S. defense contractors, including General Atomics Aeronautical Systems, General Dynamics Land Systems, and Boeing Defense, Space & Security ($BA). These companies have been added to China's unreliable entities list and are prohibited from engaging in import and export activities with China. The sanctions, which are reported by state media, come in response to the companies' sales of arms to Taiwan and coincide with the inauguration of Taiwan's new president. This move is largely symbolic, signaling China's discontent with U.S. arms sales to Taiwan.