China targets dozens of U.S. companies ahead of anticipated Trump tariffs

China on Thursday said it was adding dozens of American companies — including General Dynamics — to its export control list to “safeguard national security and interests.” 

China’s Ministry of Commerce said it would impose measures on 28 U.S. entities, and would also prohibit exports of dual-use items to the listed companies starting on Thursday, reported the Global Times, a Chinese daily viewed as aligned with Beijing, and the government-run Xinhua news agency. Dual-use items refers to those that can be used for either civilian or military purposes.  

General Dynamics did not immediately respond to a request for comment. 

The moves come as Beijing readies for the return of President-elect Donald Trump to the White House and after the Biden administration broadened its restrictions on Chinese firms amid an escalating back-and-forth. 

China last month said it was investigating U.S. microchip maker Nvidia over potential violations of Chinese anti-monopoly laws.

Still, the tit-for-tat measures are unlikely to escalate to some of the threatened actions, some analysts think.  

“Changes to immigration, trade and fiscal policy under the second Trump administration will likely be meaningful but stop short of some of the more dramatic proposals,” stated Goldman Sachs Economic Research analysts in a recent report. “We expect tariffs on imports from China and autos, but not a universal tariff, which would carry economic and political risks that we think the White House will prefer to avoid.”

contributed to this report.