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China has enacted new trade controls against U.S. companies like Raytheon, Boeing, Lockheed Martin and more, adding a total of 28 companies to an export control list weeks before Donald Trump takes office.
According to The New York Times, China's Ministry of Commerce cited a need to "safeguard national security and interests" as the reason behind the new restrictions, which ban the exporting of products that have both civilian and military applications for the listed companies. China also placed 10 U.S. companies on its so-called "unreliable entities" list over the sale of weapons to Taiwan, prohibiting them from doing business in China, and barring their executives from entering the country.
Read More: The Trouble With Trump's Tariffs
Trump has frequently threatened to impose new tariffs against China in the lead-up to his inauguration, sparking concerns over the potential for a costly trade war with one of the United State's biggest importers. China has ramped up its own rhetoric in kind, having signaled a willingness to retaliate against the U.S. with sanctions of its own in the months to come. In December, China also opened an investigation into U.S. chipmaker Nvidia over alleged violations of its anti-monopoly laws.
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