Huawei retaliation? China draws up list of ‘unreliable’ foreign companies

In an ominous but vague warning, China said Friday that it was drawing up a list of “unreliable” foreign companies, organizations and individuals for targeting in what could signal retaliation for US sanctions on the Chinese tech powerhouse Huawei.

“We think it may be the beginning of Beijing’s attempt to roll out a retaliatory framework,” said Paul Triolo of the global risk assessment firm Eurasia Group. “That could include a number of other elements, such as restrictions on rare earth shipments” – minerals that are crucial in many mobile devices and electric cars made by U.S. companies.