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The US targets a raft of Chinese companies as tensions with Beijing escalate,

plus crypto companies ditch one of their previous banks of choice,

and the US and Europe split over how to respond to Iran's nuclear enrichment activity.

Iran tends to react to censure my escalating actions,

and I think there's a concern that that could very quickly lead to a crisis.

It's Friday, March 3rd. I'm Luke Vargas with The Wall Street Journal,

and here's the AM edition of What's News,

the top headlines and business stories moving your world today.

The Biden administration has imposed export restrictions on 28 Chinese entities,

and its latest move to mitigate what it says is a growing national security threat from China.

The Commerce Department said the targeted businesses represented a range of national security risks,

including alleged ties to Iran's military, Pakistan's ballistic missile program,

and Myanmar's sanctioned military.

The companies and the Chinese embassy in Washington didn't immediately respond to requests for comment.

Officials in Beijing have repeatedly denounced US sanctions as illegal,

and all of this comes ahead of China's biggest political gathering of the year,

what's known as the two sessions in Beijing this weekend.

The Journal reporter Chun Han Wong tells us what to watch for.

Last October, the Communist Party had a change of in leadership,

...