China us tariffs
White House to host meeting with tech executives on Huawei ban: sources
Treasury Secretary Steven Mnuchin will also attend the White House event, to which chipmakers Intel Corp and Qualcomm Inc have been invited, the people said.
In May, the company was added to the so-called Entity List, which bans American firms from selling to it without special permission, as punishment for actions against US national security interests.
The meeting kicked off in a positive tone, with Trump saying: "It would be historic if we could do a fair trade deal... We are totally open to it."
Trump, who campaigned under the slogan "America First", announces tariffs of 25% on steel imports and 10% on aluminium from a number of countries in a bid to slash the huge US trade deficit.
China threatened in late May to unveil its own unprecedented hit-list of “unreliable” foreign firms, groups and individuals that harm the interests of Chinese companies.
Global shares were buoyed by the announcement, with Wall Street rallying on Tuesday and Asian stock markets surging on Wednesday.
Alphabet Inc’s Google has earlier said it would no longer provide Android software for Huawei phones after a 90-day reprieve granted by the US government expires in August.
But Monday’s better-than-expected export data is unlikely to ease fears that a longer and costlier US-China trade war may no longer be avoidable, pushing the global economy towards recession.
The apology came after activists said hundreds of Twitter accounts critical of Communist Party - from "inside and outside" China - were suspended last week.
In a statement, China said the historical experience has proved that any attempt to force a deal through tactics such as smears, undermining and maximum pressure will only spoil the cooperative relationship.
Beijing's move hits $60 billion worth of US goods with new punitive tariffs ranging from five to 25%, and comes in retaliation for Washington raising duty on $200 billion in Chinese goods to 25%.
Trump increased tariffs on $200 billion worth of Chinese imports to 25% from 10% earlier this month.
The extent to which Huawei will be hurt by the US government’s blacklist is not yet known as its global supply chain assesses the impact.
The US crackdown, announced on Wednesday, was the latest shot fired in a US-China trade war that is rattling financial markets and threatening to derail a slowing global economy.
His remarks came after a top-level US official last month described the rivalry between China and the US as "a fight with a really different civilisation and a different ideology".
The United States faces a growing challenge to its lone superpower status from a Communist-ruled China whose global influence, military might and high-tech capabilities are rapidly rising.
Chinese Foreign Ministry spokeswoman Hua Chunying made the comment in an online statement responding to remarks made by US Vice President Mike Pence.
Wrapping up a two-day summit, leaders will strive to craft a statement on the uncontroversial parts of their agenda - pushing for deeper economic integration.
Pence warned Saturday that US sanctions and pressure on China would remain in place until Beijing reforms its trade practices.