China retaliates against US blacklist, targets defence & rare earth firms with export controls

AI Summary

China has retaliated against U.S. export controls by imposing its own restrictions on 10 American defense and rare earth companies, and banning government procurement from 46 U.S. firms including Lockheed Martin and Raytheon. This escalates ongoing economic and strategic rivalry between the two countries.

China has retaliated against US export controls by imposing its own restrictions on 10 American defense and rare earth companies. Additionally, Beijing has banned government procurement of products from 46 US firms, including major defense contractors like Lockheed Martin and Raytheon. This move escalates economic tensions following the US expansion of its blacklist targeting Chinese military-linked entities, signaling a broader strategic rivalry.