China imposes trade curbs on dozens of U.S. firms in retaliation for Pentagon blacklist

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China imposed fresh trade restrictions on dozens of U.S. entities on Monday, retaliating against Washington's move to add more Chinese companies to a Pentagon list of businesses it accuses of aiding Beijing's military. On Monday, the Chinese Ministry of Commerce placed 10 American industrial suppliers on its export control list, including rare earth miners MP Materials Corp and USA Rare Earth , and drone makers Teal Drones and Jaia Robotics barring exports of any dual-use items originating in China to the companies. Other companies included on the list are California-headquartered electronics manufacturer Aveox Inc, Ball Aerospace & Technologies Corp, and military equipment provider Oshkosh Defense. In a separate statement Monday, the Chinese Finance Ministry excluded 46 U.S. companies, mostly defense contractors, from participating in government procurement projects. Any foreign-funded, locally registered entities associated with the excluded firms are exempted. The actio...

U.S., Iran agree on roadmap for final deal and plan to end military operations in Lebanon

The U.S. and Iran made progress during talks in Switzerland on Monday toward reaching a final deal within 60 days, including the agreement to establish a committee and a mechanism to end hostilities in Lebanon. "The Lake Lucerne Summit was conducted in a positive and constructive atmosphere. Encouraging progress has been made, including the creation of a mechanism for further technical talks," according to a joint statement by mediating parties Qatar and Pakistan. Building on a memorandum of understanding signed last week, the parties agreed to establish a "High Level Committee" that will provide political oversight of the mediation. Chief negotiators will report regularly to the committee and lead working groups on nuclear, sanctions, and dispute resolution, according to the joint statement. The parties also agreed to establish a "de-confliction" cell between the U.S., Iran and Lebanon, facilitated by the mediating countries, to ensure full termination of military hostilities in Lebanon. Iran's Foreign Minister Abbas Araghchi described the talks as having delivered "major progress," saying Tehran had secured what he described as waivers for oil and petrochemical exports, the lifting of the blockade on its ports, the release of some frozen assets and the launch of a reconstruction and development plan. In a post on X , Araghchi said the newly established deconfliction mechanism in Lebanon would be the "first real test" of the agreement, underscoring concerns that continued violence there could threaten the broader diplomatic effort. Vice President JD Vance, who arrived in Switzerland on Sunday after delaying his planned Friday departure over logistical issues, led the U.S. delegation at the talks. A senior U.S. diplomat involved in the talks told reporters earlier in the day that both delegations remained engaged and expected discussions to continue through the night, rejecting reports that Iran had left the negotiations. "We've had robust discussions on all elements of the nuclear deal. We plan to continue working through each of these issues and using today's work as a starting point for ongoing technical talks going forward," the U.S. official said. "Topics of discussion have included clarifying some of the confusing messaging from Iran on the Strait and building deconfliction mechanisms to ensure the Strait will remain fully open. We have also worked through deconfliction mechanisms and enforcing the ceasefire in southern Lebanon," the official said. Under the memorandum, both sides agreed to reopen the Strait of Hormuz toll-free for at least 60 days and to end all hostilities, including in Lebanon, where fighting has persisted between Israel and the Iran-backed Hezbollah. The negotiations proceeded under a cloud of escalating tensions. Iran's Islamic Revolutionary Guard Corps announced Saturday it was closing the Strait of Hormuz again in response to Israeli strikes in Lebanon. The U.S. military has denied those claims, stating the waterway remained open and that "Iran does not control the Strait of Hormuz." Iran's Tasnim news agency reportedly said that Iranian officials would keep the strait closed until a ceasefire in Lebanon was achieved and sanctions on Iranian oil sales were lifted....

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