China Imposes Sanctions on Raytheon and Lockheed Martin Over Taiwan Arms Sales
China has imposed extensive sanctions on Lockheed Martin and Raytheon Technologies Corp. for their arms sales to Taiwan, banning Chinese entities from engaging in business with them. This decision could significantly impact the operations of these companies in the region, as it restricts their ability to conduct export and import activities with China.
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On April 18, 2023, China announced sanctions against Lockheed Martin and Raytheon Technologies Corp. due to their involvement in weapons supplies to Taiwan. The measures include a prohibition on Chinese companies conducting business with these manufacturers and restrict imports and exports to prevent military use of Chinese products.
The sanctions also bar senior executives from both firms from entering China. Taiwan, anticipating further military pressure from China, plans to expand its anti-ship missile arsenal, aiming to exceed 1,800 missiles by 2029. This shift towards asymmetric warfare seeks to impose high costs on potential Chinese invasions, leveraging mobile missile systems and advanced technologies.
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