China issues stern warning to US

China issues stern warning to US

WASHINGTON/BEIJING: *China issues stern warning to US over issue of Chinese telecom giant Huawei ban.*

The Trump administration’s decision to sanction and potentially cripple Chinese telecoms giant Huawei Technologies Co Ltd garnered a sharp rebuke on Thursday from Beijing, which warned that the move could damage trade talks.

Shares of Huawei’s US suppliers also fell on fears the huge customer of US chips, software and other components would be forced to stop purchases after the US Commerce Department banned it from buying US technology without special approval.

Huawei said in a statement that losing access to US suppliers “will do significant economic harm to the American companies” and affect “tens of thousands of American jobs.”

“Huawei will seek remedies immediately and find a resolution to this matter,” the company said.