China sanctions US defense manufacturers over spy balloon, arms sales to Taiwan

Beijing unveiled sanctions against two prominent US defense manufacturers on Thursday, a day after promising countermeasures against US entities in response to the US’s downing of the Chinese balloon and the sanctioning of six Chinese entities. Lockheed Martin and Raytheon Missiles & Defense will both be added to China’s sanctions list, crippling their ability to import and export goods and invest in China, a statement from the Chinese Ministry of Commerce (MOFCOM) confirmed.