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China said it would retaliate.
Secretary of State Mike Pompeo said the restrictions affected officials believed to be responsible for or complicit in repressing religious practitioners, ethnic minority groups, dissidents and others. China’s authoritarian rulers impose draconian restrictions on the Chinese people’s freedoms of expression, religion or belief, association, and the right to peaceful assembly. The United States has been clear that perpetrators of human rights abuses like these are not welcome in our country, he said in a statement.
U.S.-China relations have plunged to their worst level in decades as the world’s top two economies spar over issues ranging from the coronavirus outbreak, Beijing’s national security law for Hong Kong, trade and espionage.
How Chinese chip giant SMIC can evade Trump s newest crackdown bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The Shanghai Composite index dropped nearly 2% on Tuesday and other regional markets also were mostly lower.
The Commerce Department announced it was including 103 entities on a new “Military End User list, including 58 Chinese and 45 Russian companies.
Such a designation requires special licensing for exports and other sales of designated products to the listed companies to prevent certain technologies from being used by foreign militaries in China, Russia or Venezuela, it said.
Many of the companies are related to aviation and shipbuilding. But the list adds to trade and financial sanctions and other controls that have taken relations between Washington and Beijing to their worst level in decades.
Asian stocks gain after Trump criticizes economic aid bill
By JOE McDONALDDecember 23, 2020 GMT
BEIJING (AP) Asian stock markets rose Wednesday after President Donald Trump suggested he may veto a $900 billion economic aid package.
Shanghai, Tokyo, Hong Kong and South Korea advanced in light trading ahead of this week’s Christmas holiday.
Overnight, Wall Street’s benchmark S&P 500 index lost 0.2% after Trump criticized the aid plan approved by Congress. He urged lawmakers to raise payments to the public.
“Hopes for an unambiguous ‘Santa rally’ have been tragically hijacked,” said Mizuho Bank in a report.
Meanwhile, investor nerves were rattled by the emergence of a new variant of the coronavirus in Britain that spreads more easily. That has prompted some 40 governments to ban travelers from Britain.
Westerners wary of travelling to China amid worries threat of detention hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.