Huawei warns of ‘terrible price’ if US-China tensions escalate

Huawei Technologies Co warned the latest US curbs on its business will inflict a “terrible price” on the global technology industry, inflaming tensions between Washington and Beijing while harming American interests.

China’s largest technology company said it will be “significantly affected” by a Commerce Department decree barring any chipmaker using American equipment from supplying Huawei without US government approval. That means companies like Taiwan Semiconductor Manufacturing Co and its rivals will have to cut off the Chinese company unless they get waivers — effectively severing Huawei’s access to cutting-edge silicon it needs for smartphones and networking gear.