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Sunday, May 17, 2020

Trade wars

China looks to retaliate against U.S. over ‘unreasonable suppression’ of Huawei

China is planning to retaliate against U.S. companies over the Trump administration's latest moves to block Huawei.
Regardless of everything else going on, the U.S. vs. Huawei saga doesn’t seem to be slowing down.
On Saturday, China’s foreign ministry called on the U.S. to stop its “unreasonable suppression” of Huawei and other Chinese companies. The foreign ministry told Reuters that it would “firmly defend its companies’ legal rights” in response to a question about possible retaliation in response to the U.S.
But strong words weren’t all that came out of China’s request to the U.S.
While the ministry didn’t directly threaten to push back in its response to Reuters, a Chinese newspaper connected to President Xi Jinping’s party reported that a source said the Chinese government was ready to retaliate against Washington.
The source, who is described as close to China’s government, told the Global Times that China was planning countermeasures, such as “imposing restrictions” against U.S. companies like Apple, Cisco, and Qualcomm. The source also suggested the possibility of China halting Boeing airplane purchases.

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