5/24, 9:26 AM (Source: TeleTrader)
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Beijing: US uses state power to punish businesses

The Chinese Commerce Ministry stated on Friday that it firmly stands against the United States using its state power to punish companies. Additionally, Beijing said that it does not support Washington's export restrictive measures, adding that it hopes the US stops the escalation of the ongoing trade tensions.

The remarks come shortly after the Chinese Foreign Ministry said that the US has been accusing Beijing of being a threat to its national security, but has not provided any evidence to support the claim. China also stated that Washington's politicians come up with "all kinds of rumors," after US Secretary of State Mike Pompeo asserted yesterday that Chinese tech companies have ties to the country's ruling communist party.

Meanwhile, following a ban the US Commerce Department imposed on Huawei Technologies, a number of companies decided to cut its ties with the Chinese tech giant. Amazon's branch in Japan was the latest to stop selling Huawei devices on its online store after major mobile carriers in Japan and the United Kingdom suspended their Huawei orders.

Breaking the News / SS