China imposes fresh sanctions on 56 US firms

Beijing announced on Monday that it has added 10 US entities with ties to the American military to its export control list, escalating trade tensions between the world's two largest economies. The move bars Chinese exporters from supplying these companies with dual-use goods and technologies that could have both civilian and military applications. Among the firms targeted are Aveox, a manufacturer of specialized motors used in mission-critical applications, along with rare earth producers MP Materials and USA Rare Earth.

In a statement, China's Commerce Ministry said the decision was a response to the "US government's malicious practice" and was taken to protect national security and interests, while simultaneously meeting international commitments such as non-proliferation obligations. The ministry instructed Chinese exporters to immediately stop any ongoing export activities with the affected US entities.

In a separate announcement, China's Ministry of Finance revealed additional restrictions targeting 46 US companies. Under the new restrictions, Chinese buyers are prohibited from purchasing products manufactured by those firms. However, US-funded enterprises operating within China will be allowed to continue procurement activities.

The latest measures follow a US move earlier this month to place several prominent Chinese companies on a list of entities Washington believes are supporting Beijing's military. The companies named by the United States include Chinese e-commerce giant Alibaba Group, search engine operator Baidu, and electric vehicle manufacturers BYD and NIO.

According to Mehr News, the sanctions reflect the ongoing trade tensions between the US and China, with both sides targeting each other's companies over national security concerns.