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Thu, Sep 19 | 12:32 pm

China Condemns US Decision to Add Firms to Export Control List, Vows Retaliation

by | Aug 26, 2024

China’s Ministry of Commerce has strongly criticized the United States for its recent decision to place multiple Chinese companies on an export control list due to their alleged involvement in Russia-related activities. In a statement released on Sunday, the ministry expressed strong opposition to the U.S. move, which it claims undermines global trade and disrupts normal economic exchanges. The Chinese government has vowed to take necessary actions to protect the legitimate rights of its companies.

The U.S. government announced on Friday that it had added 105 firms, including 42 from China, to its trade restriction list. The companies were accused of providing support to the Russian military, with charges ranging from supplying U.S. electronics to Russian military entities to manufacturing Shahed-136 drones for Russia’s use in its invasion of Ukraine. The list also included 63 Russian firms and 18 others from various countries.

Companies placed on this “entity list” face significant barriers to trade, as U.S. suppliers must obtain special, hard-to-acquire licenses to conduct business with them. This effectively restricts the ability of these firms to access U.S. goods and technology, adding considerable pressure on their operations.

China’s Ministry of Commerce criticized the U.S. decision as a violation of international trade norms, arguing that it hinders routine economic interactions between companies. The ministry emphasized that the U.S. actions disrupt the international trade order, and warned that China would take decisive measures to safeguard the rights and interests of its firms.

This latest development adds to the growing tensions between the U.S. and China, particularly in the areas of trade and technology. The Chinese government’s promise to retaliate suggests that further actions could escalate the situation, potentially leading to a broader impact on global trade relations. As the conflict continues, both sides are likely to engage in further diplomatic and economic maneuvers, which could have far-reaching implications for international commerce

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