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China Threatens Legal Action Over U.S. Chip Restrictions Targeting Huawei

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China has issued a sharp warning, stating that it may pursue legal consequences against individuals or organizations that participate in enforcing or complying with U.S. restrictions aimed at limiting the use of advanced Chinese semiconductors.

The statement, released by China’s Ministry of Commerce, comes in response to new U.S. guidance issued last week. That guidance warned companies they may violate U.S. export controls if they use Ascend AI chips made by Shenzhen-based tech giant Huawei.

China accused the U.S. of engaging in “discriminatory restrictive measures” and warned of “corresponding legal liabilities” for those who assist or implement such policies. The ministry urged Washington to respect international trade laws and to stop actions that disrupt global supply chains or unfairly target Chinese firms.

The escalation reflects mounting tensions in the global tech war between the U.S. and China. Huawei, which has long been a focal point in this dispute, continues to face export restrictions over alleged national security concerns. The new U.S. advisory targets the AI segment — a crucial area of technological competition — where Huawei’s Ascend chips are gaining traction.

While the Chinese statement did not specify what form legal action might take, the warning suggests that Beijing could respond with domestic legal challenges or retaliatory trade and regulatory measures against companies perceived as cooperating with U.S. sanctions.

Skyworks Beats Q2, Offers Upbeat Q3 Forecast; Names New CFO Amid Chip Demand Strength

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Skyworks Solutions (SWKS.O), a key Apple supplier, reported stronger-than-expected second-quarter results and issued an upbeat Q3 forecast, signaling resilient demand for its analog and mixed-signal chips despite ongoing global trade tensions. The company also announced the appointment of Mark Dentinger as its new Chief Financial Officer, effective June 2, succeeding Kris Sennesael, who is stepping down to pursue another opportunity.

Shares rose 2.7% in extended trading following the announcements.

Q2 Results:

  • Revenue: $953M (vs. $951.5M expected)

  • Adjusted EPS: $1.24 (vs. $1.20 expected)

Q3 Outlook:

  • Revenue guidance: $920M–$960M (midpoint > $922M estimate)

  • Adjusted EPS guidance: $1.24 (vs. $1.06 estimate)

  • Mobile chip business: Expected to decline low single digits sequentially

  • Broad markets: On track for another quarter of sequential growth

“We remain encouraged by ongoing momentum in our broad markets,” the company said in its earnings release, citing improving year-over-year trends across industrial, automotive, and consumer segments.

Leadership Change:

  • Mark Dentinger, former CFO of Veritas, will step in as Skyworks CFO on June 2

  • Kris Sennesael, outgoing CFO, to exit on Friday

Skyworks continues to compete with chipmakers like NXP Semiconductors (NXPI), Qorvo (QRVO), and Texas Instruments (TXN) in supplying key components for wireless communications and IoT-driven applications.

Despite macroeconomic uncertainty and tech-sector volatility, the company’s stable mobile business and growth in diversified markets underscore investor confidence going into the back half of 2025.

PayPal Shares Drop Amid EU Lawmaker’s Comments on Potential New Fees

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PayPal’s shares experienced a 5% drop on Friday following concerns raised by European Union lawmaker Bernd Lange about the possibility of new fees on U.S. tech companies like PayPal and Google due to escalating trade tensions between the U.S. and Europe. Lange, who leads the European Parliament’s international trade committee, suggested that digital service providers, including PayPal, could face additional charges as part of the EU’s response to the U.S.’s tariff threats.

The announcement follows comments from U.S. President Donald Trump, who indicated the possibility of higher tariffs on both the European Union and Canada if they collaborate in a manner that harms the U.S. economy. While the idea of imposing tariffs on digital services is complicated, due to the reliance on digital transactions rather than physical goods, the potential for such measures has contributed to investor anxiety.

A spokesperson from the German government echoed Lange’s comments, stating that “nothing is off the table” in terms of possible retaliatory actions. Despite these tensions, PayPal declined to provide further comment.

Analysts expressed doubt over the actual likelihood of these measures being enacted, with Argus Research analyst Stephen Biggar describing the situation as “sell first and ask questions later.” The potential implementation of tariffs on finance and payments remains uncertain, but the fear of such measures has triggered volatility in the stock market.