Huawei states that US ban to wipe out astonishing USD 30 billion off revenue

Ren’s downbeat assessment that the ban will hit revenue by USD 30 billion comes as a surprise after weeks of defiant comments.

Sensex, Nifty falter as tariffs on US goods stoke trade war fears

India putting retaliatory tariffs on US is creating a fear of a trade war,' said Siddhartha Khemka of Motilal Oswal Securities.

Both US and China are imposing heavy import duties on each other's products, which has triggered a trade war.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) confirmed that orders from Huawei have declined.

Two years ago Huawei sued CNEX and Huang, who co-founded CNEX in 2013, seeking at least USD 85.7 million in damages.

Talks between the two countries hit a roadblock after the second summit in Vietnam ended abruptly with no joint statement being released.

Huawei has lowered its forecast, reflecting an uncertain future.

The report said China has kept its word throughout 11 rounds of talks and will honor its commitments if a trade agreement is reached.

Washington and Beijing resumed their trade battle last month when trade talks in the US ended without a deal.

China said that the nation will create its own entity list of unreliable foreign companies.