China Urges US to Correct Wrong Trade Actions

China said the United States needs to correct its “wrong actions” in order for trade talks to continue after it blacklisted Huawei, a blow that has rippled through global supply chains and battered technology shares.

Japanese conglomerate Panasonic Corp joined a growing list of global companies that is disengaging from Huawei Technologies Co Ltd, the world’s second-largest seller of smartphones and the largest telecom-gear maker, saying it had stopped shipments of some components.

Its move came a day after British chip designer ARM said it had halted relations with Huawei to comply with the U.S. supply blockade, potentially crippling the Chinese firm’s ability to make new chips for smartphones. Huawei uses ARM blueprints to design the processors that power its smartphones.

“If the United States wants to continue trade talks, they should show sincerity and correct their wrong actions. Negotiations can only continue on the basis of equality and mutual respect,” Chinese Commerce Ministry spokesman Gao Feng told a weekly briefing.

via Reuters

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