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Trade war

China takes aim at foreign companies swayed by US sanctions

Beijing's retaliatory measure seeks damages for business losses

The U.S. has pressured allies to exclude Huawei from their 5G infrastructure and most European countries, Japan, Australia and other nations halted transactions.   © Reuters

BEIJING -- China issued countermeasures on Saturday to dissuade foreign companies from complying with U.S. restrictions that ban business transactions with Chinese individuals and companies such as Huawei.

The Ministry of Commerce said the new rules are effective immediately and allow Chinese companies to claim damages against foreign companies that side with sanctions against China. The measure would cover such restrictions as American export controls of tech components to the likes of Huawei and Semiconductor Manufacturing International Corp.

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