US, China harden their stands on Huawei as tech war intensifies

US, China harden their stands on Huawei as tech war intensifies

On Thursday, Trump announced that he has directed his agriculture secretary to provide $16 billion in assistance to America's farmers and ranchers.

A 30-day window would represent an accelerated schedule compared to previous rounds of U.S. tariffs.

He is expected to meet Chinese President Xi Jinping at a G20 summit in Japan June 28-29, around the time when the next levies could be ready, according to US Treasury Secretary Steven Mnuchin's calculations.

"Adding a 25 percent tax increase on top of these tariffs would mean some working American families could pay a almost 100 percent duty on their shoes", the companies wrote.

Pompeo told CNBC the chief executive of China's Huawei Technologies was lying about his company's lack of ties to the Beijing government, and he believed more USA companies would cut ties with the tech giant.

Iowa Soybean Association president Lindsay Greiner, said the announcement of the aid package was "welcomed news" that recognizes the economic impact of the trade war on farmers.


Purdue also said he hopes China will come back to the negotiating table.

"Huawei will be working closely with the Chinese government to get the United States to back down", says Kevin Dowd, a British professor of finance and economics.

Washington has also targeted Huawei by putting the firm on a trade blacklist.

Trump predicted a swift end to the trade war with China, although no high-level talks have been scheduled between the two countries since the last round of negotiations ended in Washington two weeks ago. But he added that Beijing would not accept any unequal agreements.

China said on Thursday it had lodged solemn representations with the United States after it escalated a trade war between the two countries by placing Chinese telecoms equipment maker Huawei Technologies on a blacklist for U.S. suppliers.

Another big Chinese tech firm, video surveillance equipment maker Hikvision Digital Technology Co Ltd, could also face limits on its ability to buy US technology, the New York Times reported, citing people familiar with the matter, sending the firm's Shenzhen-listed shares 10 percent lower at the opening on Wednesday. He said Beijing will match "extreme pressure" from the USA with its own measures.


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

Mr Trump also wants to cut America's trade deficit with China, which he says is hurting USA manufacturing. Some importers then pass the cost on to American consumers.

It also said two-fifths of respondents were considering relocating or had already relocated manufacturing facilities outside of China. Now he's not sure how long it will take to resolve the trade dispute.

The US is seeking sweeping changes, including an end to forced technology transfers and theft of US trade secrets.

But when asked for a response, Huawei pointed to a statement on Panasonic's Chinese website that said the firm was supplying Huawei "normally". Major American tech companies like Qualcomm, and Intel immediately halted cooperation with Huawei, while Google blocked Huawei's access to Android updates. "I can't recall a president more concerned about farmer well-being".

"The U.S. pork industry has been one of the most adversely affected sectors, receiving a one-two punch in the form of a 50 percent punitive tariff from China on top of the existing 12 percent duty and, until recently, a 20 percent punitive tariff from Mexico".


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