China’s Foreign Ministry: Beijing reserves right to take countermeasures on US sanctions

Dhwani Mehta FXStreet

“China reserves the right to take necessary countermeasures on US sanctions,” the country’s Foreign Ministry said in a statement on Thursday.

The Foreign Ministry said that they “will take all necessary measures to firmly defend rights of Chinese companies.”

In the last hour, the Commerce Ministry also came out with some comments, citing

US' entity list not helpful for US-China relations.

Opposes US sanctions on Chinese companies.

This comes after the US added 12 Chinese companies to its trade blacklist on Wednesday, citing national security and foreign policy concerns.

Market reaction

AUD/USD pays little heed to these comments, as it trades modestly flat on the day just above the 0.7200 level.

Meanwhile, the S&P 500 futures add 0.31% on the day, currently trading at 4,715.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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