China’s foreign ministry said on Saturday the US needed to stop the “unreasonable suppression” of Chinese companies like Huawei. The Trump administration on Friday moved to block global chip supplies to telecoms equipment giant Huawei Technologies, which it previously blacklisted. Friday’s move spurred fears of Chinese retaliation and of an effect on shares of US producers of chipmaking equipment. China will firmly defend its companies’ legal rights, the Chinese foreign ministry said in a statement in response to Reuters’ questions on whether Beijing would take retaliatory measures against the US. The new restrictions had already elicited an angry response from China, which threatened retaliation against US companies.

Source: The Irish Times May 16, 2020 16:18 UTC