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Trade war

US ban bruises earnings at 4 Chinese tech companies

ZTE posts net loss for 2018 after sanctions damaged operations and image

ZTE has been one of the companies hardest hit by the U.S.-China trade war.   © Reuters

GUANGZHOU/BEIJING -- The U.S.-China trade war is leaving visible scars on China's technology companies as embattled telecommunication equipment maker ZTE dips into the red for 2018 and growth fades at three other industry leaders targeted by Washington.

The U.S. banned government agencies from procuring products made by five Chinese companies from this August and forbade business with other companies that use their products from August 2020 in its 2019 National Defense Authorization Act, approved last August. Although the rules have yet to take effect, many Chinese companies are already seeing a slowdown in growth as a result.

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