China and the United States seem to be headed toward a new high in tensions, with Beijing announcing plans to slap sanctions on major American firms involved in arms sales to Taiwan

Chinese Foreign Ministry spokesman Zhao Lijian told a news conference in the capital Beijing on Monday that Lockheed Martin, Boeing Defense, and Raytheon were among the U.S. businesses facing Chinese sanctions over arms sales to Taiwan.

"To safeguard China's national interests, the central government decided to take necessary measures to impose sanctions on U.S. entities participating in the U.S. arms sales to Taiwan, including Lockheed Martin, Boeing Defense, and Raytheon," Zhao told reporters during his daily press briefing.