“The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment,” Reuters reports. “The Trump administration has said it would add Huawei Technologies and 70 affiliates to its ‘Entity List’ – a move that will likely ban the firm from acquiring U.S. components and technology without government approval, adding another incendiary element to the U.S.-China trade war. The ban is not yet effective.”

“It would disrupt Huawei’s business at a minimum and all but put it out of business in an extreme, while its U.S. suppliers would also be hit, [analysts] said,” Reuters reports. “On the other hand, U.S. companies like Apple face the risk of severe retaliation from China, a key market.”

Huawei’s “business has come under pressure over the past year given mounting international scrutiny, led by U.S. allegations that its equipment could be used by Beijing for spying, a concern the company has said is unfounded,” Reuters reports. “While the president’s order did not specifically name any country or company, U.S. officials have previously labeled Huawei a ‘threat.’ ‘The U.S. seems to have already decided to nail Huawei down,’ said the China-based U.S. tech company source. ‘The problem is that because there doesn’t seem to be a prospect for a trade deal in the near future, the U.S. has expedited the process of killing Huawei.'”

Read more in the full article here.

MacDailyNews Take: Yet another impetus for China to get to a deal, perhaps?

SEE ALSO:
The media is lying to you about President Trump’s China tariffs – May 15, 2019
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Apple, Deere & Co, retail in focus as U.S. releases fresh tariff list – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple shares drop 7% this week on fears China trade turmoil threatens iPhone sales – May 10, 2019
Apple’s iOS 13 rumored to drop support for iPhone 6, iPhone SE and iPhone 5s – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
Apple temporarily escapes new tariffs as U.S.-China trade war escalates – May 10, 2019
Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019