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US, China Exchange Barbs Over Huawei as Trade Tensions Flare

US, China Exchange Barbs Over Huawei as Trade Tensions Flare”

"The Huawei CEO - on that, at least - isn't telling the American people the truth".

U.S. Secretary of State Mike Pompeo said on Thursday the chief executive of China's Huawei Technologies was lying about his company's ties to the Beijing government, and he believed more American companies would cut ties with the tech giant.

The trade dispute has snowballed into a tech war, with Huawei at the epicentre of a battle for supremacy in technologies that could shape the future of the world economy, such as next-generation 5G networks in which the Chinese firm is a global leader.

China's commerce ministry spokesman Gao Feng said Beijing has lodged "solemn representations" with Washington, and warned that the country has the "confidence and ability to protect the lawful rights and interests of Chinese companies".

"5G networks need to be robust and secure, and not rely on equipment or services that pose a national security risk", said Republican Senator Roger Wicker.

Beijing has already responded to Trump's tariff hikes on $250 billion of Chinese imports by slapping penalties on $110 billion of American goods. The blacklisting bars Huawei from buying components for their products from any U.S. company, and it could prove to be a crippling blow for the company, which has grown exponentially over the past few years.

Tech companies around the world have fallen in line with USA curbs on the company.

Huawei has repeatedly denied it is controlled by the Chinese government, military or intelligence services.

World shares fell sharply on Thursday as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war.

The Chinese government's top diplomat, Wang Yi, said Wednesday that China's door would always be open to further trade talks with the United States, but added that Beijing would not accept any unequal agreements.

It is an "attempt to impede China's development process", he said.

The latest hit in a trade war was made by Washington on 10 May when $200 billion worth of Chinese goods were subjected to the 25 tariff fee.

Retailers, including Best Buy Co Inc and Walmart Inc, are also warning that the tariffs will raise prices for consumers. The newest round will cost the typical American household $831 annually, according to research Thursday from the Federal Reserve Bank of NY.

Pompeo confirmed a New York Times report on Wednesday that China was using high-tech surveillance to set up an intrusive policing effort that could be used to subdue its minorities, including ethnic Muslim Uighurs. Chinese state media have grown increasingly belligerent this week.

Stocks are sinking sharply in morning trading on Wall Street as investors' worries about the U.S.

Also feeding into tensions, the USA military said it sent two Navy ships through the Taiwan Strait on Wednesday, prompting Chinese Foreign Ministry spokesman Lu Kang to lodge "stern representations".

Trump has embraced protectionism as part of an "America First" agenda aimed at rebalancing global trade. The Asian nation had put up a fearless front throughout the course of the skirmish, but in a stunning development, the Chinese President Xi Jinping has told his countrymen that they must prepare for harder times ahead.



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