China adds 10 US firms, including rare-earth miner, to export control list
Summary
China has added 10 US companies to its export control list, stopping the export of certain goods that can be used for both civilian and military purposes to these companies. China also banned its government from buying products from nearly 50 US firms in response to the US Pentagon blacklisting about 80 Chinese companies for their links to the Chinese military.Key Facts
- China added 10 US companies, including rare-earth mining and defense firms, to its export control list.
- Chinese companies are barred from exporting "dual-use" items to these US firms; dual-use means goods that can be used for both civilian and military purposes.
- China also banned government procurement from 46 US companies, including major defense contractors like Lockheed Martin and Boeing.
- US companies funded locally in China were exempt from this government procurement ban.
- The US Pentagon blacklisted about 80 Chinese companies linked to the Chinese military earlier in June 2024.
- The US list includes big Chinese firms like Alibaba, Baidu, and BYD, but the US did not ban doing business with them.
- Experts see China’s move as a retaliation for US restrictions, possibly signaling a new phase in the ongoing US-China trade tensions.
- Some affected companies have already moved part of their supply chains out of China to reduce risks.
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