China to Sanction U.S. Defense Contractors Over Taiwan Sales

Lou Whiteman, The Motley Fool
·2 min read
China to Sanction U.S. Defense Contractors Over Taiwan Sales
China to Sanction U.S. Defense Contractors Over Taiwan Sales

China intends to hit Lockheed Martin (NYSE: LMT), Raytheon Technologies (NYSE: RTX), and the defense arm of Boeing (NYSE: BA) with sanctions following a move by the U.S. State Department to approve $1.8 billion in arms sales to Taiwan, Bloomberg reported today. The U.S. government last week said it intends to push forward with a massive arms deal to Taiwan, which has been separate from mainland China since 1949 but which is considered by the People's Republic of China to be a breakaway province.