Trump to Sign Order to Ban US Businesses From Using Huawei’s Telecom Equipment? - Forex News by FX Leaders

Trump to Sign Order to Ban US Businesses From Using Huawei’s Telecom Equipment?

Posted Wednesday, May 15, 2019 by
Arslan Butt • 1 min read

According to an exclusive breaking story on Reuters, President Trump is planning to sign an order in a few days which could prevent US companies from using telecoms equipment manufactured by companies designated as a threat to national security. This could effectively lead to a ban on Huawei from doing business in the US.

Unnamed sources have confirmed to Reuters that this ban has been under consideration since a year but after much delay, could pass and come into effect soon. Invoking the International Emergency Economic Powers Act, the President could sign off on the order on an issue that could be considered a national emergency.

The US government is concerned that Huawei’s technology could be used by the Chinese government to spy on American businesses. Even though the company has denied such allegations, banning its equipment could lead to further strain in US-China relations.

In addition, the US has deemed Huawei’s products untrustworthy and has urged other countries also to ban it in their markets. In August 2018, Trump had signed off on a bill that prevented the US government from using equipment manufactured by Huawei and ZTE Corp.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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