China says it will sanction Lockheed over Taiwan deal

Tensions between the U.S. and China are spilling over to touch Lockheed Martin Corp. (NYSE: LMT) as well.  Bloomberg reported Tuesday that Chinese officials will impose sanctions on the Bethesda, Maryland-based defense giant in retaliation for a recent $620 million deal to sell Patriot Advanced Capability-3 (PAC-3) missile parts that will extend the operational lifespan of the country’s arsenal by 30 years. The PAC-3 serves as an interceptor missile system designed to defend against enemy…