Tit-For-Tat Sanctions With China May Put Companies In A Bind

By Cari Stinebower, Leon Liu and Mariana Pendás (June 30, 2021, 5:42 PM EDT) -- On June 3, President Joe Biden issued a new executive order eliminating the Communist Chinese Military Companies designation authority and replacing it with the Chinese Military-Industrial Complex Companies authority.

The new authority is more aggressive and provides greater clarity than an executive order from November 2020. As one may expect, the Chinese government's reaction was to oppose what it views as unilateral sanctions.

In line with what other jurisdictions have done, the government of China on June 10 also published the PRC Law on Countering Foreign Sanctions, or what is colloquially being called the Anti-Sanctions Law. This falls in line with the...

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