American Companies Could Restart Business With Huawei Within a Month
According to Reuters, the US government could permit American companies to restart their business engagement with Huawei within 2-4 weeks.
According to an exclusive report on Reuters, the US government could permit American companies to restart their business engagement with Huawei within 2-4 weeks. At the G20 summit in June, US President Trump had announced that the ban on Huawei would be reconsidered in keeping with the truce on the trade war as US and China resume negotiations towards a trade deal.
This was a key issue under discussion between both presidents at the meeting during the G20 summit. In addition, the US government was also pressured to make this move by American semiconductor companies. US companies earned $11 billion out of the $70 billion that Huawei spent in 2018 to procure components to manufacture its products. Some of its leading suppliers in the US include Qualcomm, Intel and Micron Technology.
As trade tensions between both sides escalated, the US had previously added Huawei to its Entity List, a move that barred the Chinese tech company from receiving technology and components from its American suppliers without special approvals from the government. The US had alleged that the Chinese government was illegally using Huawei’s technology to spy on international citizens, businesses and governmwnts.
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