(Reuters) — China’s overseas ministry mentioned on Saturday the United States wanted to cease the “unreasonable suppression” of Chinese corporations like Huawei, and a Chinese newspaper mentioned the federal government was able to retaliate in opposition to Washington. The Trump administration on Friday moved to dam international chip provides to blacklisted telecoms tools firm Huawei, spurring fears of Chinese retaliation and hammering shares of U.S. producers of chipmaking tools.

China will firmly defend its corporations’ authorized rights, the overseas ministry mentioned in a press release in response to Reuters’ questions on whether or not Beijing would take retaliatory measures in opposition to the United States. China’s Global Times newspaper on Saturday quoted a supply near the Chinese authorities as saying that Beijing was able to take a sequence of countermeasures in opposition to the United States, akin to placing U.S. corporations on an “unreliable entity list” and imposing restrictions on U.S. corporations akin to Apple, Cisco, and Qualcomm.

The newspaper, revealed by the People’s Daily, the official newspaper of China’s ruling Communist Party, mentioned the supply additionally talked about halting the acquisition of Boeing airplanes. “China will take forceful countermeasures to protect its own legitimate rights” if the United States strikes ahead with the plan to vary guidelines and bar important suppliers of chips, together with Taiwan-based TSMC, from promoting chips to Huawei, the Global Times quoted the supply as saying.

Tensions between the world’s two largest economies have spiked in current weeks, with officers on each side suggesting a hard-won deal that defused a bitter 18-month commerce conflict might be deserted months after it was signed in January. In addition to the transfer on Huawei, the U.S. Federal Retirement Thrift Investment Board, which oversees billions in federal retirement {dollars}, this week additionally mentioned it might indefinitely delay plans to spend money on some Chinese corporations which are underneath scrutiny in Washington.