China is pushing back from turbulent US sanctions, with new rules protecting its companies from
slotxo foreign laws that "Not fair"The changes announced over the weekend allow Chinese courts to punish companies that adhere to the restrictions.US President Donald Trump continues to target Chinese companies he believes are a threat to US national security.Measures include sanctions for companies that supply parts to blacklisted companies.On Monday, three large Chinese telecommunications companies listed on the New York Stock Exchange (NYSE) were expected to see their shares delisted over allegations of ties with the military.The NYSE is removing China Mobile, China Telecom and China Unicom Hong Kong following an executive order signed by Trump in November.The move comes as a result of operations with Chinese companies in recent months, including TikTok, Huawei and microchip maker.
Semiconductor Manufacturing International Corporation (SMIC)Last week, Trump signed an executive order banning transactions with eight Chinese apps, including Alipay, the popular payment platform and WeChat Pay.The US president has claimed the technology company shared information with the Chinese government - an accusation they denied.In a statement on Saturday, the Chinese Ministry of Commerce introduced new rules on how to "Against the use of unrighteous extraterritorial laws" of foreign law.Legal persons affected by the application of foreign law can take legal action in court and claim compensation for damages caused," said Bert Hoffman, director of the Institute of East Asia at National University. Singapore said. "The government can take other countermeasures as well.
Bounce backThe measure came into effect immediately, not addressing the United States directly, although China has long complained about U.S. sanctions and trade restrictions.But legal experts said it was unclear how the new law would operate.One point to clarify is that the directive is aimed at targeting specific sanctions against China, or sanctions targeting third countries such as Iran or Russia, which have a detrimental impact on Chinese companies." Colas Turner, a lawyer for Steptoe & Johnson in Hong Kong.Companies with significant business interests in China may need to walk carefully.Mr Turner believes China is defending itself against future sanctions Mr Trump may bring before he leaves the White House later this month.I expect more action to be taken before 20 [January], according to a statement from the US State Department, although it remains to wait to see if they can push new things out in time." According to the situation, ”he added.
