Tag: US-China Trade War
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Chinese billionaire ‘evaded $1.8bn in US tariffs’
Chinese billionaire Liu Zhongtian has been indicted in the US over allegations he evaded $1.8bn (£1.5bn) in tariffs on aluminium imports. Prosecutors accuse Mr Liu of using the aluminium company he founded to smuggle huge amounts of the metal into the US. The firm, China Zhongwang Holdings, did not immediately respond to a BBC request…
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Huawei to lose $30 billion revenue following US ban
China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as…
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Huawei: US blacklist will harm billions of consumers
A US move to put Huawei on a trade blacklist “sets a dangerous precedent” that will harm billions of consumers, the firm’s top legal officer said. Speaking at a press conference, Song Liuping said the trade ban would also “directly harm” American companies and affect jobs. Washington recently added Huawei to a list of companies…
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Huawei: ARM memo tells staff to stop working with China’s tech giant
UK-based chip designer ARM has told staff it must suspend business with Huawei, according to internal documents obtained by the BBC. ARM instructed employees to halt “all active contracts, support entitlements, and any pending engagements” with Huawei and its subsidiaries to comply with a recent US trade clampdown. ARM’s designs form the basis of most…
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Apple’s earnings would drop by nearly 30% if China bans its products, Goldman Sachs says
The U.S.-China trade war could take a big chunk out of Apple’s bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs. Analyst Rod Hall said in a note to clients that Apple’s earnings could drop by 29% if the company’s products were banned in mainland China. Apple’s China business…
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Huawei’s Android loss: How it affects you
The restrictions being placed on Huawei’s access to the Android operating system will cast a long shadow over Tuesday’s launch of the Chinese company’s latest handsets. The firm has invited press from across the globe to London to witness the unveiling of its Honor 20 Series smartphones. The BBC understands the devices will still offer…