The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment.
A new rule, unveiled by the Commerce Department, expands U.S. authority to require licenses for sales to Huawei of semiconductors made abroad with U.S. technology, vastly expanding its reach to halt exports to the world's number two smartphone maker.
The reaction from China was swift, with a report by China's Global Times saying Beijing was ready to put U.S. companies on an unreliable entity list.
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