The US administration blacklisted Huawei Technologies last month amid the escalated US-China trade war, accusing the tech giant of being sponsored by the Chinese state and spying on its behalf via its devices, thus forcing US firms to cut ties with the Chinese company.
US President Donald Trump’s restrictions on Chinese telecom giant Huawei can be likened to “murder”, said Craig Allen, president of the US-China Business Council on Tuesday, at CNBC’s Capital Exchange summit.
Thea Lee, president of the Economic Policy Institute, also on the panel, was vocal in condemning Donald Trump’s use of tariffs in negotiating a trade deal.
In response to its blacklisting, Huawei has filed a motion for summary judgement in its lawsuit against the US government asking that it declare the 2019 National Defence Authorisation Act (NDAA) unconstitutional.The trade conflict between the world’s two largest economies has continued to escalate as both sides have slapped tariffs on billions of dollars’ worth of each other’s goods. China has threatened to cut off its rare earth mineral supply to the US and reportedly stopped ordering US soybeans.