China has threatened retaliatory measures after Washington decided to blacklist more than 60 Chinese companies. This is a sign that tensions between the world’s two largest economies could escalate in the final days of Donald Trump’s presidency.
The United States has “abused” export controls to pressure businesses, institutions and individuals from other countries, China’s Ministry of Commerce said in a statement on Saturday.
The US Commerce Department in a statement on Friday cited national security and human rights abuses as reasons for blacklisting Chinese companies. Shanghai-based chip maker Semiconductor Manufacturing International Corp. and Shenzhen-based drone giant SZ DJI Technology Co. was among the companies that were punished.
China’s Ministry of Commerce said,
“Such actions have seriously damaged the economic order and international trade and the rules of free trade, as well as the security of global supply chains,”
DJI, the world’s largest drone maker, said,
“it was “disappointed” by the blacklist but would not stop US customers from buying its products. Being on the list denies companies access to American technology from software to programs.”