GLOBAL BUSINESS : ''CHINESE MEDIA ACCUSES US''

CHINESE MEDIA accuses US of plot to 'colonise global business'.

China's state media has unleashed fresh attacks on the US as the tariff war between world's two largest economies continues.

The China Daily newspaper on Friday accused Washington of seeking to ''colonize global business''  by targeting Chinese firms.

The Global Times accused the U.S. of ''hegemonic hubris'' and launching a ''global assault'' on free trade.

The Trump administration last week put Huawei on a blacklist that effectively barred US firms from selling their Chinese company computer chips and other components without government approval.

The move could cripple Huawei, the world's largest manufacturer of networking gear and second -biggest smartphone maker.

Washington has called Huawei a threat to to national security. The Trump administration has imposed 25% tariffs on $250 billion in Chinese imports and has plans to hit another $300 billion worth. [Agencies]