Huawei ban clouds US-China trade talks, tech sector

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WASHINGTON/BEIJING: A U.S. bid to block China's Huawei Technologies from buying vital American technology threw into question sales from some of ...

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WASHINGTON/BEIJING: A U.S. bid to block China's Huawei Technologies from buying vital American technology threw into question sales from some of the largest tech companies and drew a sharp rebuke on Thursday from Beijing, which warned it could hurt trade talks.

The U.S. crackdown, announced on Wednesday, was the latest shot fired in a U.S.-China trade war that is rattling financial markets and threatening to derail a slowing global economy.Chinese officials said Washington's aggressive posture could affect trade talks, which appeared to have hit an impasse in the past week as the United States hiked tariffs on Chinese goods and Beijing retaliated with higher duties on U.S. products.

Lawmakers in the U.S. Congress have long feared that Huawei's equipment could be used by the Chinese government to spy on Americans. Democrats and Republicans lined up in support of the Trump administration's move. Shares of Xilinx were down 5.7 percent in the early afternoon on Thursday while those of rival chipmaker Qualcomm Inc fell 3.6 percent. They were the biggest drags on the Philadelphia SE Semiconductor Index.

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