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
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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.