"I hope we are going to get to the bottom of this, but I make no apologies for taking down that balloon," the US president said

China previously sanctioned the two firms in February last year over a $100-million arms sale to the island

Vietnam has recently been repeatedly mentioned in US trade meetings among countries at highest risk of falling foul of US trade restrictions, a source said

US denies flying surveillance balloons over China, while sources said Secretary of State Blinken was considering meeting top Chinese diplomat Wang Yi at Munich Security Conference this week

The claim comes amid state media reports that Chinese authorities were ‘preparing’ to shoot down an unidentified flying object near a major port city

Washington is confident that the maker of the Chinese spy balloon has a 'direct relationship' with the People's Liberation Army, a senior official said

Japan also said there has been confirmation of suspected balloons flying over it, including in the open waters off the southwestern region of Kyushu in 2022

The United States imported $538.8 billion worth of goods from China last year and sent exports worth $153.8 billion to the country

"The United States is being strict, but there is a question of whether we have to exactly match that," said former economy minister Akira Amari.

“Today, we’re in the strongest position in decades to compete with China or anyone else in the world,” Biden said in his State of the Union address

Officials say successful recovery of the balloon's debris could give the United States insight into China's spying capabilities

US Investments in Chinese AI companies totalled $40.2 billion from 2015 to 2021, making up for 37% of the total raised by the firms in the six-year period