China Sanctions U.S. Defense Industry Tycoons

China announced sanctions against CEOs of two major U.S. defense contractors Friday for their role in an arms package the State Department approved for Taiwan on Sept. 2.

Chinese foreign ministry spokesperson Mao Ning said the sanctions against Raytheon CEO Gregory J. Hayes and Boeing Defense CEO Ted Colbert will “defend China’s sovereignty and security interests” against U.S. “military contact” with Taiwan. The Biden administration notified Congress of its intent to transfer $1.1 billion worth of military equipment to Taiwan earlier this month, including 60 anti-ship missiles Boeing Defense agreed to produce and 100 air-to-air missilescontracted with Raytheon.

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