China on Friday accused U.S. officials of lying to the public about their trade ...
BEIJING - China on Friday accused U.S. officials of lying to the public about their trade war, as rising tensions between the world’s two largest economies kept financial markets in a state of unease.
Washington has slapped higher tariffs on $200 billion in Chinese goods, prompting Beijing to retaliate, and effectively banned U.S. firms from doing business with Huawei Technologies Co Ltd, the world’s largest telecom network gear maker. In an interview with CNBC on Thursday, Pompeo said Huawei was connected to the Chinese government, dismissing Huawei chief executive Ren Zhengfei’s assertions that his company would never share user secrets.
Pompeo said he believed more American companies would cut ties with the tech giant, while the United States has been rallying its allies to persuade them not to use Huawei for their 5G networks. The seeds of the current impasse were sowed when Chinese officials sought major changes to the draft text of a deal that the Trump administration says had been largely agreed.
Financial markets fear the trade war could badly damage global supply lines and prompt a further slowdown of the world economy. Economists say the tariffs will curb growth in the United States and China, two of the more solid economies.
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