China imposed fines and sanctions against two U.S. defense companies in a further escalation of tensions between the world’s two biggest economies.
Lockheed Martin Corp. and a subsidiary of Raytheon Technologies Corp. were added to a list of “unreliable entities” due to their participation in arms sales to Taiwan, China’s Ministry of Commerce said in a statement Thursday.
As with previous sanctions announced against the firms and other U.S. defense companies, these measures are likely to be largely symbolic given both have little direct exposure to China. An email to Raytheon outside of business hours went unanswered, as did calls to Lockheed Martin.
