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American Companies Could Restart Business With Huawei Within a Month

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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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.
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