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US-China Trade War Update: US to Blacklist Hikvision?

It’s the start of a new week, and the US-China trade war continues to remain in focus. The latest we’re hearing is that the US is set to blacklist Hikvision, one of the global leaders in video surveillance products, just like it did Huawei.

If the US goes ahead with this, the company may experience challenges in acquiring American components. American companies interested in pursuing business with Hikvision will need special government licenses to sell technology to the Chinese company. This is in line with the Trump administration alleging that China uses companies’ technology to spy on other governments, businesses and individuals.

Hikvision, on its part, has stated that it has been engaging with the US government since October 2018 to allay its concerns and has even hired a human rights expert for additional guidance. Supposedly, Hikvision’s surveillance camera systems are powered with artificial intelligence (AI) technology that could be used for facial recognition.

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Arslan Butt
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Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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