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Trump's Huawei ban also causing tech shocks in Europe

Natasha Lomas
Trump's Huawei ban also causing tech shocks in Europe

The escalating U.S.-China trade war that's seen Chinese tech giant Huawei slapped on a U.S. trade blacklist is causing ripples of shock across Europe too, as restrictions imposed on U.S. companies hit regional suppliers concerned they could face U.S. restrictions if they don't ditch Huawei. Reuters reports shares fell sharply today in three European chipmakers -- Infineon Technologies, AMS and STMicroelectronics -- after reports suggested some already had, or were about to, halt shipments to Huawei following the executive order barring U.S. firms from trading with the Chinese tech giant. The interconnectedness of high-tech supply chains coupled with U.S. dominance of the sector and Huawei's strong regional position as a supplier of cellular, IT and network kit in Europe suddenly makes political risk a fast-accelerating threat for EU technology companies, large and small.