Chinese technology giant Huawei said on Monday that its business will “inevitably be impacted” by a new US regulation aiming to limit chip exports to the firm. It added that it “categorically opposes” Washington’s latest move.

“The US is leveraging its own technological strengths to crush companies outside its own borders. This will only serve to undermine the trust international companies place in US technology and supply chains. Ultimately, this will harm US interests,” Huawei said in a statement, adding that the decision was “arbitrary and pernicious, and threatens to undermine the entire industry worldwide.”

The company’s chairman, Guo Ping, said at Huawei’s annual global analyst summit on Monday: “We expect that our business will inevitably be affected. We will try all we can to seek a solution.”

Read more…