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The US move against Huawei reminded Victor Wang, founding and managing partner of Silicon Valley-based CEG Ventures, of Chinese telecommunications company ZTE, which underwent a US export ban last year. The ban was lifted after the US made a deal with the company.

The US Treasury announced on Friday that it has added 21 individuals and nine entities related to Russia and Ukraine to its sanctions list.

The US administration on Tuesday proposed a list of products to be subject to additional tariffs, covering Chinese exports worth 50 billion US dollars with a suggested tariff rate of 25 percent.

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The United States also agreed to work with China to use the dialogue mechanism to strengthen bilateral cooperation in related areas, promote specific cases through dialogue with the Chinese side and work to yield more outcomes to benefit both countries and their peoples.

The US, however, has a more sophisticated tech and innovation market. With its massive market and mushrooming capital, China could learn from Silicon Valley's development experience and sound investment environment.

The US ran a trade deficit of 0 billion against the rest of the world in 2017, but once the overseas sales of US multinationals is taken in account, the US holds a surplus of 0 billion, according to a research by Deutsche Bank based on data provided by the US Bureau of Economic Analysis.

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The US has placed heavy sanctions on Huawei that bar foreign semiconductor makers from selling chips made using US technology to the firm.

The US launched the Section 232 case on aluminum imports and threats to national security last April.

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The UN office for South-South Cooperation and the Shenzhen Youth Federation jointly launched a program aimed at training young entrepreneurs in developing countries, especially Africa.

The United States-China Economic and Security Review Commission estimated that China and India manufacture 80 percent of the world's APIs, including various acti