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The Latest: China: US abusing power, meddling in markets

A woman gets her bearing outside a Huawei store in Beijing Monday, May 20, 2019. (AP Photo/Ng Han Guan)

BEIJING — The Latest on U.S. restrictions on sales to Chinese technology giant Huawei (all times local):

5:35 p.m.

A Chinese foreign ministry spokesman has accused Washington of misusing “state power” to hurt foreign companies and interfere in commercial markets.

The spokesman, Lu Kang, said in a routine briefing on Tuesday that “The Chinese government has determination and ability to safeguard its legitimate and lawful rights and interests.”

Responding to a question about President Donald Trump’s comment that a trade deal with Beijing has to be more beneficial to the U.S. than China, Lu said it was “unscientific and unprofessional” to assume that there must always be a winner and a loser in trade relations between the two countries.

He said any agreement must be balanced, equal and mutually beneficial.

Lu also said that using government power to “crackdown” on foreign companies and interfere in markets would not be in the interest of the U.S.

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4:44 p.m.

The founder of Huawei says U.S. restrictions on sales to the Chinese tech giant will have little impact and the company is talking with Google about the possible effect on its smartphone business.

Ren Zhengfei told Chinese reporters Tuesday in comments broadcast by state TV the company has “supply backups” if it loses access to American chips and other technology under last week’s order.

Washington says Huawei is a security threat and imposed imposing restrictions last week on technology sales to the company.

Ren said those control “will have no impact within this company” but some low-end business might be affected.

He said Huawei and Google are discussing possible “emergency relief measures” for its smartphone business, which might lose access to some of the American company’s services.

The Associated Press