China has announced sanctions on 12 defense-related US firms and ten executives to counter US sanctions on China over its links to Russia and American arms sales to Taiwan.
China's Foreign Ministry said on Wednesday it will freeze assets in China of the 12 targeted companies, including a unit of Lockheed Martin. The action will be based on China's Anti-Foreign Sanctions Law.
The ten executives, including the CEO of Northrop Grumman, will be barred entry to China.
The ministry accused the US of unilaterally imposing sanctions on a number of Chinese entities, thereby significantly undermining their legal interests, "on the basis of so-called Russia-related factors."
The US government imposed sanctions on multiple China-based entities this month for allegedly supporting Russia's military industry.
The Chinese Foreign Ministry also cited the US sale of weapons to Taiwan.
The Chinese government announced sanctions on US businesses and individuals for three days in a row from Monday, apparently to keep the US at bay and to step up pressure on the new Taiwanese administration of Lai Ching-te, who assumed the presidency that day.