News Snippets

Tech leaders caught in crossfire say no one ‘wins a trade war’

Tech leaders in Asia are warning that risks from ongoing trade tensions are broadening, accelerating the fragmentation of the global industry and threatening collaboration in key research areas.

China and the US announced face-to-face negotiations will be held in the coming weeks, but the prospects for a quick resolution to the trade conflict look slim. Some tech companies are seeing weakening sales and their competitive edge erode, pushing players to radically overhaul supply chains. Such splintering may now extend to other areas, including critical fields like artificial intelligence, in which the pair of global superpowers lead.

Tariffs have made it more difficult to win business, eroding the competitiveness of American companies in China. US tariffs on roughly $110bn worth of consumer imports from China went into effect at the beginning of this month, drawing retaliation from Beijing.

Previous ArticleNext Article