Chinese multinational technology firm Lenovo stated that it can shift production to other countries if the U.S. slaps additional tariffs on China.
Trade tension between the U.S. and China exacerbates as Steve Bannon, former White House chief strategist, says driving out Huawei is more important than the trade deal.
Huawei takes another heavy hit as ARM Holdings, a British semiconductor and software design company, cuts ties with it to comply with U.S. sanctions.
According to Reuters, the U.S. administration is considering sanctions on Hikvision, a video surveillance firm.
On Wednesday, the U.S. Department of Commerce restricted Huawei's access to American technology, banning the company from buying U.S. technology without special approval.
Xi Jinping, President of China met with U.S. President Donald Trump after the G20 summit in Buenos Aires, Argentina on Dec. 1, during which the two leaders reached a consensus on trade and economic issues.
Trump’s New Visa Policy Closes the Door on Highly-Educated Scientists
In the early hours of March 23, Beijing time, CNNMoney.com reported that a trade war between U.S. and China would be very bad news to some big U.S. companies.