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Briefings China targets Hanwha Ocean’s affiliates over US shipbuilding sanctions disputeBeijing bans transactions with Hanwha’s US-linked units over alleged support for Washington’s Section 301 investigation China’s Ministry of Commerce (MOFCOM) announced on Tuesday that it had imposed countermeasures on five U.S.-related subsidiaries of Hanwha Ocean after Washington began enforcing its final Section 301 measures against China’s maritime, logistics and shipbuilding industries. MOFCOM accused the U.S. of violating international law and harming the legitimate interests of Chinese enterprises, saying Hanwha’s American subsidiaries had “assisted and supported” the U.S. investigation. The move followed the Oct. 14 (Eastern Time) implementation of new tariffs and fees under Section 301 investigations into China’s maritime policies, a probe completed in April. The sanctions were issued under China’s Anti-Foreign Sanctions Lawand © Korea Risk Group. All rights reserved. |





