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China Hits Back at US with Sanctions on Lockheed, Raytheon

  • Penalties for US defense contractors seen as largely symbolic
  • Move may derail US-China efforts to turn down current tensions
Bloomberg business news
China Hits Back With Sanctions on Lockheed, Raytheon
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China imposed fines and sanctions against two US defense companies in a further escalation of tensions between the world’s biggest economies. 

Lockheed Martin Corp. and a subsidiary of Raytheon Technologies Corp. were added to a list of “unreliable entities” for selling weapons to Taiwan, China’s Ministry of Commerce said in a statement Thursday.