Tuesday, 02 January 2024 12:17 GMT

China Adds Six U.S. Companies to Trade Blacklist


(MENAFN) China intensified its trade dispute with the United States on Thursday by blacklisting six American companies, escalating tensions despite ongoing diplomatic efforts to ease conflicts over technology and security.

In a statement from China’s Ministry of Commerce, three U.S. firms were added to the “unreliable entity list,” effectively barring them from all import-export operations and investment within China’s borders. The list includes Huntington Ingalls Industries, Inc., a prominent American shipbuilder, alongside three other companies.

The additional companies blacklisted are Saronic Technologies, Inc., Aerkomm Inc., and Oceaneering International, Inc.

China justified the sanctions by citing threats to its “national security and development interests,” imposing a strict ban on trade and new investments by these firms in the country.

This development arrives amid recent talks between Chinese and U.S. officials aimed at de-escalating trade, technology, and security issues. Delegations from both nations convened in Madrid on September 14–15 to discuss trade concerns, including disputes involving TikTok.

In a related diplomatic exchange, Chinese President Xi Jinping and U.S. President Donald Trump spoke by phone on Friday, a conversation Trump described as “very productive.”

Separately, China urged the U.S. on Thursday to lift what it termed “unreasonable tariffs” and to foster improved conditions for bilateral trade growth, according to a state-run news agency.

Commerce Ministry spokesperson He Yadong emphasized the impact of U.S. policies, stating, “US unilateral restrictions remain the biggest obstacle to normal economic cooperation.”

He added, “It is hoped that the United States will work in the same direction with China to create favorable conditions for the stable, healthy, and sustainable development of China-U.S. economic and trade relations.”

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