WASHINGTON: The Trump administration in its waning days took another swipe at China and its biggest firms on Thursday , imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms.
Those companies will be subject to a new US investment ban which forces American investors to divest holdings of the blacklisted firms by Nov 11, 2021.In its response, the Chinese embassy referred to Jan 7 Foreign Ministry comments accusing Washington of"pinning political and ideological labels on economic and trade issues and exploiting its state power to crack down on foreign companies, under the pretext of national security".
"The United States stands with Southeast Asian claimant states seeking to defend their sovereign rights and interests, consistent with international law," Secretary of State Mike Pompeo said in announcing the sanctions.Pompeo said Washington was imposing visa restrictions on executives of Chinese state-owned enterprises and officials of the Chinese Communist Party and navy.
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