China’s Ministry of Commerce commented on the U.S. export restrictions on chips targeting Huawei, stating that China will take firm action to protect its rights if the United States harms Chinese interests. Beijing urged Washington to reverse the decision, pointing out that the U.S. is already undermining the consensus reached between the two countries during talks in Geneva. Nasdaq 100 futures (US100) pulled back following the release of China’s statement, but are clearly attempting to recover ahead of the market open.
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