Ahead of a key meeting between U.S. President Joe Biden and Chinese President Xi Jinping during the Asia-Pacific Economic Cooperation leaders’ week in California, tensions flared as China criticized U.S. export controls. On Sunday, China stated it “resolutely opposes” the U.S. move to add multiple Chinese entities to its export control list, aimed at limiting Russia’s access to advanced technology for its weapons. A spokesperson from China’s Ministry of Commerce condemned the action, describing it as “a typical act of unilateral sanctions and long-arm jurisdiction” that disrupts international trade order and global supply chains. Beijing vowed to protect the interests of Chinese firms.
The U.S. announced on Friday that it would tighten export controls, adding 123 entities to the list, including 42 in China, 63 in Russia, and 14 in Turkey, Iran, and Cyprus. Entities on this list face export restrictions and licensing requirements for certain technologies. Undersecretary of Commerce for Industry and Security Alan Estevez underscored the U.S.’s commitment to restricting Russia’s access to advanced U.S. technology, particularly for its military efforts in Ukraine.
Additionally, the U.S. targeted diversion through shell companies by listing four “high-diversion risk addresses” in Hong Kong and Turkey. Transactions involving these addresses will now require a license. This latest measure follows February’s trade restrictions on 93 entities connected to Russia’s war efforts and an April probe into China’s shipbuilding and logistics industries over alleged unfair practices.
This escalating economic tug-of-war highlights the growing complexities in U.S.-China relations, especially surrounding global security and trade dynamics.
Original Story https://www.cnbc.com/2024/08/26/china-slams-us-for-placing-some-chinese-firms-on-export-control-list.html
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