China Announces 'Countermeasures' after US Trade Sanctions

A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)
A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)
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China Announces 'Countermeasures' after US Trade Sanctions

A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)
A man rides a tricycle to carry belongings in Beijing Wednesday, Aug. 5, 2026. (AP Photo/Achmad Ibrahim)

China announced restrictions on drone exports to the United States and blacklisted six companies on Wednesday in response to trade sanctions imposed by Washington over forced labor and national security concerns.

The move comes days after the United States imposed fresh tariffs on China and 59 other countries, adding to a series of recent trade measures.

The US actions "seriously harm China's legitimate rights and interests,” a commerce ministry spokesperson said in a statement, according to AFP.

"China can only take necessary countermeasures in response, including strengthening export controls on drones, and their key components and technology to the US."

Beijing's measures also include suspending factory follow-up inspections by Chinese certification bodies, blacklisting US compliance testing companies, and launching national security investigations into imports of office printers and copiers, according to the ministry.

It also imposed sanctions on six US businesses, including biotech company Applied DNA Sciences and geoscience research firm Stratum Reservoir, barring organizations and individuals within China from "engaging in relevant transactions, cooperation, or other activities with them.”

The six entities "have assisted and supported illegal US sanctions related to Xinjiang; the nature of their actions is egregious,” the commerce ministry said.

The UN has warned of possible crimes against humanity in Xinjiang region targeting the mostly Muslim Uyghur minority -- accusations China vehemently denies.

China's top trade official He Lifeng expressed "serious concern" to US Trade Representative Jamieson Greer in a call over the recent restrictions, state news agency Xinhua reported.

China also accused the United States last week of seeking to "suppress" Chinese companies, after Washington banned imports of humanoid and quadruped robots manufactured abroad in a move separate from the new tariffs.

China and the United States spent much of last year embroiled in an escalating trade war but reached a truce when US President Donald Trump and his Chinese counterpart Xi Jinping met last October.

The latest US tariffs against China and other trade partners however have threatened that truce, with Beijing warning Washington against waging a trade war.



Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
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Trump Warns EU of Tariffs over Canada's Potential Associate Membership

President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)
President Donald Trump speaks to reporters at Charlotte Douglas International Airport, Wednesday, Sept. 16, 2026, in Charlotte, N.C. (AP Photo/Alex Brandon)

US President Donald Trump has threatened to take action against the EU if it moved forward with European Commission President Ursula von der Leyen's proposal to make Canada the bloc's first associate member.

"If they do that, if I think it's at all ⁠a hostile act, ⁠I will put very serious tariffs or stop trading with Europe on many things," Trump told reporters en route to ⁠an event in North Carolina, calling the proposal "laughable."

"And so, if they do that, if Europe does that with a bad intention, if it's a good intention, that's fine. If it's a bad intention, we'll put very heavy tariffs ⁠on ⁠Europe."

Von der Leyen announced the proposal on Wednesday during her annual State of the Union speech, attended by Canadian Prime Minister Mick Carney, as she sought to deepen ties among allies in what she called "an openly hostile world.”


Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
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Riyadh Global Medical Biotechnology Summit Concludes with Agreements Exceeding SAR5 Billion

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)
The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday. (SPA)

The fourth edition of the Riyadh Global Medical Biotechnology Summit 2026 concluded on Wednesday with more than 40 agreements, initiatives and announcements unveiled through partnerships, programs and projects with a combined estimated value exceeding SAR5 billion.

The initiatives aim to advance biotechnology localization and strengthen its healthcare and economic impact, the Saudi Press Agency said.

The summit drew delegations and experts from more than 57 countries and more than 200 speakers. The total number of visitors and registrants exceeded 15,000.

Its program included more than 80 sessions, along with seven high-level executive sessions, covering artificial intelligence, genomics, vaccines, biomanufacturing, advanced therapies, investment, and talent development.

The Life Sciences Innovation Forum attracted five specialized investment funds that expressed readiness to invest more than $120 million in promising opportunities and companies.

Meanwhile, the Next Generation Biotechnologist Forum focused on empowering early-career researchers and scientists.

The accompanying exhibition spanned more than 6,000 square meters and featured more than 120 sponsors and exhibitors, including international pavilions from Spain, China, Japan, Germany, the United States of America, and the Republic of Korea.


Goldman Sachs Sees October Fed Hike after Hawkish Signal

FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
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Goldman Sachs Sees October Fed Hike after Hawkish Signal

FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, US, May 1, 2020. REUTERS/Kevin Lamarque/File Photo

Goldman Sachs now expects the Federal Reserve to raise interest rates by another quarter point in October, making it one of the first major Wall Street banks to forecast consecutive rate hikes following the US central bank's hawkish signal on Wednesday.

The call represents a reversal of Goldman's earlier view that the US Fed had completed its tightening cycle after September's quarter-point increase.

Goldman said the Fed's updated rate projections, which showed a strong ⁠majority of policymakers ⁠expecting at least one more increase this year, pointed to a "two-hike baseline" for 2026.

The brokerage said October was the most likely timing for the next move because policymakers framed further tightening as supporting "a timelier return" to the Fed's 2% inflation target.

The ⁠Fed earlier on Wednesday raised interest rates by 25 basis points to a 3.75%-4.00% range.

Goldman said the meeting was more hawkish than expected, citing policymakers' rate projections, an upward revision to the neutral interest rate and Chair Kevin Warsh's repeated description of the move as having only "removed a dose of accommodation."

Traders see roughly 50% odds of another quarter-point Fed rate hike in October, according to CME Group's ⁠FedWatch tool, ⁠up sharply after policymakers signaled further tightening could be needed.

Goldman's revised forecast leaves Bank of America Global Research as the only other major brokerage expecting a more aggressive tightening path, with BofA projecting rate hikes in October and December, Reuters reported.

Markets will also be watching policy decisions from the Bank of England, due later in the day, and the Bank of Japan on Friday for further clues on the global interest-rate outlook.