Beijing Freezes China Assets of U.S. Arms-Makers Over Taiwan Sales

What’s new: The Chinese foreign ministry announced sanctions against two U.S. arms manufacturers on Thursday for their participation in selling weapons to Taiwan, after the Biden administration approved additional possible arms sales worth $75 million to the island in late February.

The two firms, namely General Atomics Aeronautical Systems Inc. and General Dynamics Land Systems Inc., will have their assets within China frozen beginning Thursday, according to a notice issued by the Ministry of Foreign Affairs.