Trade negotiations between the United States and China have broken down because the US government says the Chinese were walking back their agreement on matters that had previously been addressed. US negotiators and President Donald Trump were furious, and on May 10, Trump more than doubled US tariffs on $200 billion worth of imports from China. The lead Chinese negotiator, Liu He, told reporters that, because a final agreement was not reached, revisions were not “walked back,” a line that the US side does not seem to buy. The Chinese government has now retaliated, announcing that it will raise tariffs on $60 billion worth of US goods.

The United States is at least a month from enacting its proposed tariffs on $300 billion in Chinese imports as it studies the impact on American consumers, U.S. Treasury Secretary Steven Mnuchin said on Wednesday.

The U.S. government is lobbying South Korea not to use Huawei Technologies Co Ltd products, a South Korean newspaper reported on Thursday, amid a wider push by Washington to get its allies to reject the Chinese tech firm’s goods.

"There's already ample evidence that the trade war is hurting both sides."

A top U.S. business lobby in China said on Wednesday that nearly half of its members are seeing non-tariff barrier retaliation in China as a result of the increasingly bitter trade war between Beijing and Washington.

The 90-day temporary general license for Huawei "bears little meaning" and Huawei is fully prepared, said Huawei CEO Ren Zhengfei during a press conference on Tuesday.

The move is also likely to inflame the tensions that have escalated in President Trump’s renewed trade war with Chinese leaders.

Chinese ambassador to US calls accusations against Huawei 'groundless,' says door is still open on trade talks

Chinese Ambassador to the United States Cui Tiankai said on Tuesday that Beijing was ready to resume trade talks with Washington, but blamed the U.S. side for frequently “changing its mind” on tentative deals to end U.S.-China trade disputes.

"This is a very dangerous situation for us because it deepens some of the risks that the global economy is already facing."