China’s Ministry of Foreign Affairs announced the measures on Friday, targeting 20 US defence firms and 10 individuals. It said the sanctions are retaliation for the US’s newly announced $11.1bn weapons package for Taiwan, one of its largest ever for the territory.

Beijing has imposed sanctions against 20 US defence firms and their executives in response to Washington’s massive arms sale package to Taiwan last week. The sales, if approved by the US Congress, would mark the largest-ever US weapons package to Taiwan,

China has sanctioned 20 U.S. companies including Boeing following following America's weapon sales to Taiwan while Bitcoin has fallen.