China imposes restrictions on dozens of American firms - In retaliation for the Pentagon's "blacklist"
China imposed new trade restrictions on dozens of US entities, retaliating against Washington's move to add more Chinese companies to the Pentagon's list of businesses it accuses of aiding Beijing's military. China's Ministry of Commerce placed 10 US industrial suppliers on its export control list.
In a separate statement on Monday, China's Ministry of Finance barred 46 U.S. companies, mostly defense contractors, from participating in government procurement projects. Any domestically registered and foreign-funded entities affiliated with the barred firms are also barred.
The actions came after the Pentagon earlier this month updated the so-called 1260H list by adding a host of Chinese technology companies to a list of entities it believes have aided Beijing's military.
Beijing's countermeasures appear to be largely symbolic, rather than a substantive escalation in US-China relations, analysts said, as most of the targeted companies have "little or no significant business exposure in China".
Designation 1260H does not impose immediate sanctions, but it prohibits the U.S. Department of Defense from awarding direct contracts to affected companies starting June 30, with restrictions on indirect procurement set to take effect in 2027. The designation is likely to discourage other federal agencies and trading partners from doing business with the publicly traded companies.
Chinese authorities responded earlier this month, saying they would take all necessary measures to protect the "legitimate and legal rights and benefits" of Chinese companies, while criticizing the US for "compiling discriminatory lists under the pretext of national security."
According to Chinese officials, the latest countermeasures provide a "model example" of how China can withstand mild escalation from the US while keeping the broader relationship stable, adding that last month's Trump-Xi summit restored relations to a more positive footing.
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