American Tech Companies to Meet with Trade Officials to Discuss Huawei Ban - Forex News by FX Leaders
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American Tech Companies to Meet with Trade Officials to Discuss Huawei Ban

Posted Monday, July 22, 2019 by
Arslan Butt • 1 min read

White House chief economic adviser Larry Kudlow is all set to hold meetings with executives from US tech companies on Monday to discuss the issue of Huawei ban. US Treasury Secretary Steven Mnuchin is also expected to attend the dinner, which will see executives from leading software and semiconductor companies gathering.

Intel, Qualcomm, Google and Micron are expected to be included in Monday’s meeting. Even though Trump had announced that American businesses could resume their business with Huawei, there still remains uncertainty on how to restart this as the government has not yet taken the company off the Entity List.

As a result, American companies wishing to supply components and technology to Huawei still require special government approvals and licences to resume their business. The most recent comment was heard from Commerce Department Secretary Wilbur Ross, who had remarked that the department will issue licenses so long as there was no threat to national security.

According to him, sales could start again in a matter of weeks, but there has been no clarity yet on what kind of licenses will be approved as a result of this latest development. Tech companies have declined to comment on the White House dinner so far.

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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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