China fired back at the Trump administration on Saturday with new rules that would punish global companies for complying with Washington’s tightening restrictions on doing business with Chinese companies. It said its measures were necessary to safeguard China’s national sovereignty and security and to protect the rights of Chinese citizens and entities. Although Chinese officials did not mention any specific country, the new rules could potentially put global companies in the middle of the economic battles being waged between Washington and Beijing. As President Trump’s trade war against Chinese intensified, the Trump administration prohibited the sale of American technology to Huawei, the Chinese telecommunications giant, and other firms. It also issued rules that punish companies for their ties to the Chinese military and for their involvement in Beijing’s surveillance and suppression of mostly Muslim ethnic minorities in China’s far northwestern region of Xinjiang.

Source: International New York Times January 09, 2021 11:15 UTC