*** US vs. China ***
The trade truce between the US and China may be on fragile ground as both sides appear to be engaged in a war of words and neither side is completely confident that the other will keep their side of the bargain.
China's Commerce Ministry announced on Wednesday that it would take legal action against any organisation or individual that assists the US in advising people away from Using China's advanced semiconductors.
The US Commerce Department had warned that using Huawei chips anywhere in the world would violate US export controls before later removing the reference.
It was reported on Tuesday that Chinese shipments of Apple's (AAPL) iPhone and mobile devices to the US fell to their lowest since 2011 in April. The sharp drop highlights how US tariffs have severely disrupted trade between the world's two largest economies.
The busiest container hub in the US, the Port of Los Angeles, saw shipments drop by as much as 30% in early May as President Trump’s tariffs took a toll. Importers and retailers, especially those linked to China, were among the most affected.
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Source: Yahoo Finance