Huawei Drops Lawsuit Against US Government - Forex News by Strategia Forex
Huawei still on US Entity List

Huawei Drops Lawsuit Against US Government

Posted Tuesday, September 10, 2019 by
Arslan Butt • 1 min read

A court filing from Monday reveals that banned Chinese tech leader Huawei has dropped a lawsuit against the US government following the release of its seized telecom equipment. The US government had previously confiscated Huawei’s telecom equipment over suspicions that the company had violated export controls.

However, Huawei has now confirmed that the US government released the seized equipment after two years in August after evaluating and confirming that no export license was needed for it. Huawei has expressed its disappointment in the court filing in the government failing to provide an adequate explanation for detaining the equipment.

Amid escalating trade tenions with China, the US government had added Huawei to a trade blacklist, the Entity List, in May 2019. Washington alleges that the Chinese government uses Huawei’s technology to spy on international governments and citizens. As a result of this move, Huawei has been unable to procure technology and components from American companies without special approvals from the US government.

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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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