Author: Vitaliy Dadalyan

China Retaliates Against Lockheed Martin on Taiwan Part Sale

(Bloomberg) -- China will impose unspecified sanctions on defense contractor Lockheed Martin Corp. after the U.S. approved a possible $620 million deal to supply missile parts to Taiwan, the latest in a series of punitive actions by the superpowers as relations grow colder.“China firmly opposes U.S. arms sales to Taiwan,” Chinese Foreign Ministry spokesman Zhao Lijian said at a briefing in Beijing on Tuesday. “We will impose sanctions on the main contractor of this arms sale, Lockheed Martin,” he said, without elaborating on what form the sanctions may take.The move comes as tensions grow between the U.S. and China on a number of fronts, from the trade war and territorial claims in the South China Sea to the coronavirus pandemic and new security law Beijing imposed on Hong Kong. Zhao called on the U.S. to cut military ties with Taiwan -- which China considers part of its territory -- to avoid...