Beijing responds to Washington and creates blacklist of foreign companies – The Economic Journal

The Chinese government will create its own black list of "unreliable" foreign companies, the Commerce Ministry said Friday in full commercial and technological rivalry with the United States.

This announcement comes after Chinese telecoms giant Huawei was placed by Washington this month in a list of suspicious companies that US entities can not sell technology equipment.

Huawei, which relies on US-made electronic chips to equip its handsets, has thus been severely hit by its own existence, analysts quoted by AFP reported.

The measure announced today by Beijing appears as a response to the Trump administration's offensive against Huawei.

"Foreign companies, organizations and individuals not complying with market rules, which deviate from the spirit of a contract, impose embargoes or stop providing Chinese companies for non-commercial reasons and seriously damage their legitimate interests and rights shall be placed in a list of untrustworthy entities, "said China's Ministry of Commerce spokesman Gao Feng.

This new measure is announced on the eve of the entry into force of new punitive customs duties in China on US products, almost a year after the start of the commercial hostilities unleashed by US President Donald Trump.

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