‘Will pay the price’: China sanctions 20 US firms over $10 b arms sale to Taiwan; freezes all assets

China has imposed sweeping sanctions on 20 US defense firms and 10 executives, freezing assets and banning business dealings. This retaliatory move follows Washington's approval of over $10 billion in arms sales to Taiwan. Beijing asserts these sales violate the one-China principle and threaten its sovereignty, vowing firm responses to any provocations.