Chinese technology giant Huawei voiced its objections to the United States’ recent move to “blacklist” the company, insisting the rash decision by President Donald Trump is in no one’s interest.

“It (the ban) will do significant economic harm to the American companies with which Huawei does business, affect tens of thousands of American jobs, and disrupt the current collaboration and mutual trust that exist on the global supply chain,”Huawei said, adding that it will actively find ways to remedy the current situation and mitigate the impact.

The response came after president Trump stepped up measures against Huawei on Wednesday, in which he effectively barred the telecom from the US market and added it to a blacklist restricting US sales to the firm.

Chinese foreign ministry spokesman, Lu Kang, criticized the moves as an “abuse of export control measures,” Yicai.com reported.

“We urge the United States to stop the wrong approach,” said foreign ministry spokesman, Lu Kang. “China will take further necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.”