U.S., China exchange barbs over Huawei as trade tensions flare

May 23, 2019

The United States and China had a heated exchange on Thursday, with U.S. Secretary of State Mike Pompeo accusing Chinese telecom giant Huawei Technologies of lying about its ties to the government and Beijing saying Washington must end its “wrong actions” if it wanted trade talks to continue.

U.S. tech stocks were the hardest hit in an overall sharp global market drop on Thursday in signs the conflict between the world’s two biggest economies was being seen as a battle not just over trade but also about who controls global technology...

No trade talks have been scheduled since the last round ended on May 10, when President Donald Trump hiked tariffs on $200 billion worth of Chinese goods and took steps to impose more, prompting China to respond with levies of its own.

Trump has threatened to slap tariffs of up to 25% on an additional list of Chinese imports worth about $300 billion, but his Treasury Secretary Steven Mnuchin on Wednesday said he was hopeful the two sides could resume negotiations...

This was excerpted from 23 May 2019 edition of Reuters.


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