© 2019 Bloomberg Finance LPChina on Saturday announced that it was investigating U.S. delivery service Federal Express and published four criteria that will be used to determine if foreign companies are “unreliable,” ramping up the trade war with the United States. At the same time, the Chinese government announced on Saturday that it was raising tariffs on $60 billion of U.S. imports in retaliation for President Trump’s decision to raise tariffs on $200 billion of Chinese imports to 25% from 10%. The Chinese attack on Fedex appeared to come as retaliation for President Trump’s decision to restrict the Chinese cellphone maker Huawei from dealing with U.S. firms, threatening the company’s survival. “China's relevant government department has decided to file a case for investigation of FedEx on suspicion of undermining the legitimate rights and interests of Chinese clients,” the Chinese news agency Xinhua said. This could be applied against Google parent Alphabet which has decided to cut off Huawei from its Android cellphone features.

Source: Forbes June 01, 2019 22:38 UTC