China sets sanctions on Raytheon, Lockheed

Raytheon Technologies, parent of Collins Aerospace, Cedar Rapids largest employer, and Lockheed Martin were hit with sanctions by China, Asia Times reported Tuesday.

The news website noted the United States earlier this month had given the go-ahead for the two defense contractors to provide maintenance services for Taiwan’s missile defense systems.

The U.S. approval came amid ongoing disputes between Taiwan and mainland China.

That deal was estimated to be worth $100 million, the site said.

China’s Foreign Ministry did not elaborate on what the sanctions would entail. However, Asia Times cited a state-owned Chengdu Radio and Television commentary saying China could freeze the two contractors’ mainland assets and forbid them from buying Chinese rare-earth minerals.

A Collins Aerospace spokeswoman, on behalf of Raytheon, declined to comment on Wednesday.