The announcement comes as trade tensions between the economic superpowers are rising after the US hiked tariffs on $200 billion of Chinese goods last week, to which Beijing retaliated.
BEIJING – Asian markets mostly fell Thursday as Donald Trump's ban preventing US companies from using foreign telecoms equipment jolted investors who saw it as targeting Chinese providers and risking another flare-up in an already tense trade war.
The Trump administration has for months tried to persuade allies not to allow China a role in building next-generation 5G mobile networks, warning that doing so would result in restrictions on sharing of information with the United States. Asia had been given a positive lead from Wall Street and Europe, where investors were cheered by reports that the White House was planning to delay tariffs on auto imports while it pursues agreements with key trading partners.
The dollar fell against its major peers and most higher-yielding currencies, with speculation swirling that the Federal Reserve could cut interest rates to fend off the effects of the trade war and slowing economic growth. Such talk comes just months after some commentators had been predicting up to three hikes this year.
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