China Blacklists 10 U.S. Companies as “Unreliable Entities” Prohibited from Doing Business

Forex - China issued a new warning to Trump regarding the tools it could use to protect its national interests in response to the Biden administration's recent increase in arms sales to Taiwan. The Ministry of Commerce in Beijing blacklisted 10 companies as “unreliable entities” banned from doing business in China and stated that it would prevent 28 more companies from purchasing unspecified components that could have both civilian and military dual-use. Most of the mentioned defense contractors had previously been sanctioned by China and, unlike some of the hundreds of Chinese firms punished by Washington that have operations in the U.S., they conduct very little trade with the country. While citing the protection of national security, Xinhua News Agency stated that the targeted companies had been engaged in military technology cooperation and arms sales with Taiwan in recent years, despite China's strong opposition.