⚡Crypto Alert : Start Trading Cryptos with 0 Fees - Click Here

Huawei Still Won’t Have Access to Sensitive Technology from American Companies

The G20 summit concluded on a positive note as far as global financial markets were concerned. And the key takeaway has been the resumption in trade talks between the US and China, which have the markets hopeful that a trade deal could be in the offing soon.

After his meeting with Chinese President Xi Jinping, US President Donald Trump also announced his decision to permit American tech companies to supply components to Huawei. However, White House aide and National Economic Council Chairman Larry Kudlow has clarified that only products widely available will be accessible to Huawei. Sensitive technology equipment will continue to remain off-limits for Huawei.

Kudlow made these remarks when speaking with Fox News on Sunday, adding that the Commerce Department will grant certain additional licenses to supply components with general availability as per Huawei’s requirements. National security concerns continue to plague the US government’s relationship with Huawei, and as a result, this reprieve is not all-encompassing.

Broader concerns about Huawei will be addressed as trade talks between both sides continue to progress. The US government had added Huawei to its Entity List and banned American companies from supplying components without special approval from the government.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Arslan Butt
Index & Commodity Analyst
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.
Related Articles
🔒 OPEN A TRADING ACCOUNT