The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer "designated items" to companies on the blacklist.
The International Trade Council believes that this move by the United States will have far-reaching implications for global trade and may result in a retaliatory response from China and Russia. We urge all parties involved to exercise caution and restraint in their actions to avoid further escalation of tensions.
"The International Trade Council recognizes the importance of addressing security concerns, but we also believe that any measures taken must be proportionate and consistent with international trade rules," said a spokesperson for the International Trade Council. "We encourage all parties involved to engage in constructive dialogue and to work towards a peaceful resolution to the current tensions."
The US government has added additional restrictions on Chinese technology companies in recent months, and the International Trade Council is closely monitoring the situation. We will continue to provide updates and insights on this issue as it develops.
