US adds 12 Chinese firms to trade sanctions list

This article is over 6 months old

Commerce department releases annual list of Chinese firms banned from importing or exporting with the threat of penalties

The US has added 12 Chinese companies, many of them state-owned enterprises, to its annual list of banned or restricted companies from importing or exporting with the threat of penalties, the commerce department said on Thursday.

US publishes restricted list of Chinese companies and economies Read more

A draft list prepared by the department and sent to Chinese companies last month has led to angry accusations that Washington is trying to choke off access to China’s economy in retaliation for what it says is China’s unfair trade practices.

In a statement about the latest list, the commerce department said the 12 new entities had failed to live up to their promises to comply with US norms. They will have until March 2019 to give a declaration that they intend to get compliant.

Companies that were added to the list could be slapped with a variety of sanctions, including the blocking of their trading on US financial markets, commerce department spokesman James Rockas said.

The new list was published on the web site of the commerce department’s enforcement office and the federal agency’s General Administrative Office.

Leave a Comment