U.S. companies are anticipating lower revenue after the U.S. government imposed restrictions on Huawei's ability to purchase products.
it would prepare a list of "unreliable entities" that cut off the flow of products to Chinese businesses and "seriously damage the legitimate rights and interests of Chinese enterprises."
The spat represents the latest escalation in the trade war between the world's two largest economies after trade talks collapsed last month. Both countries have slapped more tariffs on billions of dollars worth of each other's goods in addition to stepping up the rhetoric. Even without the blacklist, U.S. tech companies are concerned that higher tariffs will disrupt supply chains and lead to increased prices.
"Clearly, the implementation of incremental tariffs on the complete list of products imported from China would have industry-wide impacts,"Tech executives can only hope that the current dispute is temporary given the reliance many companies have on China. "They're a formidable company — $120 billion global supply chain," Jenks said. "As a result, we expect ultimately that they continue as a customer at some level."
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