China acts fast to stymie Biden trade alliance with Europe

For foreign companies with big operations or sales in China, that would create an enormous dilemma of whether to comply with the US sanctions and risk punishing damages, or obey the Chinese rules and risk US-imposed penalties.

While US companies are unlikely to risk breaching the sanctions – which leaves them exposed to the risk of court-ordered compensation in China – the rules will also cause angst for companies from other jurisdictions. If a European or Australian company, for…