Amid trade war, China slams 'US bullying' as Trump targets Huawei

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Trump signs executive order clearing the way to ban Huawei from U.S. networks

The order did not specifically identify any country or company, but US officials have previously labeled Huawei a "threat" and lobbied allies not to use Huawei network equipment in next-generation 5G networks.

5G's importance to emerging industries and its reliance on a complex mixture of software and hardware have countries like the USA anxious that adversaries could easily hack the networks to access user data and divert communication traffic to their own servers.

Repeated references to a "trade war" are misleading in what they suggest about the nature of Sino-American economic competition today. The Chinese have retaliated by hiking tariffs on $60 billion in USA imports.

Asked whether China will retaliate by targeting certain United States companies, Lu said that as for foreign enterprises operating in China, there is no need for them to worry as long as their businesses are law-abiding.

In Beijing, a Chinese Commerce Ministry official said,"China will take all necessary measures" to ensure the rights of Chinese companies.

In recent months, the USA government has taken a number of steps against the firm, including getting Canadian authorities in December to arrest Huawei CFO Meng Wanzhou over allegations of defrauding several banks by concealing payments from Iran in violation of US sanctions.

Huawei paid consulting outfit Oxford Economics to write a report saying the company's British activities are worth £1.7bn to the UK GDP.

Companies should expect that Commerce will deny licenses to sell to Huawei now that it is added to the Entity List.

Lu said China opposes countries that create problems using national security as an excuse.

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China's telecom equipment giant Huawei Technologies Co. It later revised the number of affiliates down to 68.

On Tuesday (May 14), a day before the executive order was signed, Huawei said that it would be willing to sign "no-spying agreements" with governments that are tired of the company being manipulated to serve the political purposes of China's state intelligence agencies. Requests for approvals for transactions will be reviewed under a "policy of presumption of denial", which suggests obtaining permission will be very hard. We are breathlessly informed that 26,000 jobs, £470m in taxes, the salaries of 16,900 nurses, the smile on Mary Poppins' face and the odds of snow on Christmas Day all emanate from Huawei in Britain, directly and indirectly.

She is understood to have not been deterred by a stark warning from US Secretary of State Mike Pompeo that such a move would threaten intelligence sharing.

One of Huawei's booths at MWC Barcelona 2019. The U.S. government believes that equipment from Chinese companies is a risk to U.S. internet and telecom networks.

Susquehanna Financial Group analyst Christopher Rolland, who said he believed Huawei had built up a one-to-two-year supply of USA components, cut price targets on several microchip companies, including Xilinx Inc. Qualcomm fell 4 percent.

At the same time, the United States and China's battle over trade continues, with President Trump raising tariffs on Chinese electronic components and other products up to 25%. Last year, Huawei was the world's second-largest mobile phone supplier by sales after Samsung.

Chief Financial Officer Brett Biggs told Reuters the company would seek to ease the pain, in part by trying to buy from different countries.

By Wednesday, the United States and China had already announced staggering new tariffs on a combined $260 billion worth of trade-a figure reflective of a pretty bad week for bilateral relations. Mnuchin said he and U.S. Trade Representative Robert Lighthizer were planning to travel to Beijing for more talks.

Japan has blocked the use of Huawei equipment for 5G over security fears, although as in other countries, Huawei kit is part of the existing 4G network.

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