China sanctions Raytheon, Boeing Defense CEOs over Taiwan

BEIJING (AP) — China has announced sanctions against the CEOs of American defense contractors Raytheon and Boeing Defense over a major arms sale to rival Taiwan. The Foreign Ministry did not specify what the sanctions would be against Gregory Hayes, chairman and CEO of Raytheon Technologies Corp., and Ted Colbert, president and CEO of Boeing Defense, Space and Security. The U.S. announced a $1.09 billion arms sale to Taiwan last week including $355 million for Boeing’s Harpoon missiles and $85 million for Raytheon’s Sidewinder missiles. China claims Taiwan as its territory. The two split in 1949 during a civil war that brought the Communist Party to power in Beijing.