Photo by Mike Segar, Reuters
The fickle, feckless, foolish American stock markets have surged after the “U.S. and China said their presidents will meet in Japan next week to relaunch trade talks after a month-long stalemate,” reports Bloomberg. Otherwise, the U.S.-China trade and tech war grinds on, 354 days after it started by our count.
Huawei filed a lawsuit against the U.S. Commerce Department on Friday challenging the legality of an American seizure of “telecommunications equipment it sent from China to the United States, and then back to China,” reports the South China Morning Post. Meanwhile, the company is “girding itself for a future in which the United States is more bitter rival than friend,” and prepared for a long fight, according to the Washington Post.
“FedEx Corp has apologized for another Huawei delivery ‘mistake,’ reigniting Chinese ire and drawing the fire of state media which suggested the U.S. delivery firm could end up on China’s upcoming list of companies that harm national interests,” says Reuters.
Merchants who sell on Amazon are hurting as they scramble “to navigate an unpredictable trade war that’s upending their proven business model of buying inexpensive goods in China and selling them at a markup in the U.S.,” reports Bloomberg via Yahoo.
U.S. Senator Marco Rubio, the panda slugger’s panda slugger, “is using the trade impasse between Washington and Beijing to open a new front of potential friction between the two nations, by questioning why [MSCI Stock Indexes] a major player in global stock benchmarks is including Chinese shares in its stock indexes — years after that process has been under way,” reports the South China Morning Post.
New export restrictions: If you missed Friday’s news about China’s largest supercomputing companies being added to the U.S. “entity list,” these will catch you up: