China is readying financial countermeasures against U.S. companies like Apple and Qualcomm after the US government executed the process to block Huawei’s global semiconductor supply.
China is readying financial countermeasures against U. S. companies like Apple and Qualcomm after the US government executed the process to block Huawei’s global semiconductor supply.
On Friday, the Trump administration said it would amend an export rule to block shipments of semiconductors that are the “direct product of certain U. S. software and technology,” Reutersreported.
In response, the Chinese government reacted swiftly. It’s preparing a series of countermeasures, including putting U. S.-based companies on an “unreliable entity list,” imposing restrictions on companies like Apple, and launching investigations, the Global Timesreported.
“China will take forceful countermeasures to protect its own legitimate rights,” a source told the Global Times, a subsidiary newspaper of China’s Communist Party.
