Firmly opposed to latest United States rules against Huawei, says China

China’s commerce ministry said on Sunday it is firmly opposed to the latest rules by the United States against Huawei and will take all necessary measures to safeguard Chinese firms’ rights and interests.

The ministry said in a statement that it urges the United States to immediately stop the wrong actions.

The Trump administration on Friday moved to block global chip supplies to blacklisted telecoms equipment company Huawei Technologies, spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking equipment. The new rule went into effect on Friday but would have a 120-day grace period.