China’s Commerce Ministry justified the steps on Monday by citing the “malicious practices” of the US government and the need to protect national security. Among the affected companies are engine manufacturer Aveox as well as rare earth producers MP Materials and Rare Earth. Chinese exporters are now banned from supplying dual-use goods — products that can be used for both civilian and military purposes — to these firms. Existing export deals must be halted immediately.
The sanctions imposed by the Finance Ministry target 46 additional US companies and focus on imports: Chinese buyers are now prohibited from purchasing products from these manufacturers. Companies with US capital operating in China are exempt.
Source: www.handelsblatt.com
