The US government yesterday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, spurring fears of Chinese retaliation and hammering the shares of US producers of chip-making equipment. The Trump administration's new rule, unveiled by the Commerce Department, expands US authority to require licenses for sales to Huawei of semiconductors made abroad with US technology. The move vastly expands its reach to halt exports to the world's No. The White House has previously described Huawei as a security risk and demanded its exclusion from 5G infrastructure projects. The reaction from China was swift, with a report yesterday by China's 'Global Times' saying Beijing was ready to put US companies on an "unreliable entity list," as part of countermeasures.

Source: Irish Independent May 16, 2020 01:30 UTC