China Vows Countermeasures on U.S. Sanctions Against Its Firms
China threatened to impose countermeasures after Washington decided to blacklist more than 60 Chinese companies, a sign that tensions between the world’s two biggest economies may further escalate during the final days of Donald Trump’s presidency.
The U.S. has “abused” export controls to suppress enterprises, institutions and individuals of other countries, China’s Ministry of Commerce said in a statement on Saturday.
The U.S. Commerce Department cited national security and human rights violations as reasons for blacklisting the Chinese companies in an announcement on Friday. Shanghai-based chip maker Semiconductor Manufacturing International Corp. and Shenzhen-based drone giant SZ DJI Technology Co. were among the companies that were punished.
“Such moves have seriously damaged the international economic and trade order and free trade rules, as well as the security of the global supply chain,” China’s commerce ministry said.
DJI, the world’s biggest drone maker, said it was “disappointed” about the blacklisting but won’t stop U.S. customers buying its products. Being on the list denies the companies access to U.S. technology from software to circuitry.
— With assistance by Edwin Chan, and Yuan Gao
Source: Read Full Article