HONG KONG/BEIJING (Jan 12): US President Donald Trump famously tweeted that “trade wars are good, and easy to win” in 2018, as he began to impose tariffs on about US$360 billion of imports from China. Turns out he was wrong on both counts.
China’s new rules amp up pressure on US businesses
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The rules include blocking Chinese companies like Huawei from obtaining certain components made by US or foreign suppliers or US technology
(REUTERS)
Stella Yifan Xie
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Hong Kong: Beijing hit back against recent US restrictions targeting Chinese companies, saying it plans to ban Chinese firms and citizens from complying with foreign laws and sanctions it deems “unjustified.
Beijing’s new rules, released Saturday, also allow Chinese companies to sue in Chinese courts those who comply with the foreign laws.
The rules come after the US imposed various restrictions against Chinese companies. Those include blocking some Chinese companies like Huawei Technologies Co. from obtaining certain components made by US or foreign suppliers, or accessing US technology.