A tweet by Global Times editor-in-chief, Hu Xijin
“Based on what I know, if the US further blocks key technology supply to Huawei, China will activate the “unreliable entity list”, restrict or investigate US companies such as Qualcomm, Cisco and Apple, and suspend the purchase of Boeing airplanes.”
It looks like the tit-for-tat retaliatory action is back in the playbook for US-China tensions. This is certainly not a positive headline for risk, even if it isn’t an official confirmation by China but the message is loud and clear i.e. they will be looking to respond.
US futures are extending losses on the back of the headlines here as tensions ramp up.