Media ININ Economy We Trust
15th-07-2019
The US administration may grant licenses for companies to re-start new sales to Huawei in as little as two to four weeks. Huawei was included last May into a Commerce Department list banning US firms from selling new US-made goods and services to the Chinese tech behemoth, unless they apply for licenses that would be most probably denied.
However, President Donald Trump announced that US companies could sell products to Huawei, after meeting with his Chinese counterpart Xi Jinping. In the same way, a few days ago, Commerce Secretary Wilbur Ross said licenses would be granted as long as no national security threat is posed.
“Since there’s no downside, companies are absolutely submitting applications, as required by the regulations,” former Commerce Department official and Washington lawyer Kevin Wolf said.
This came following earlier report by the news agency that two US chipmakers who supply the Chinese telecoms equipment maker said that they would apply for more licences after Ross’ remarks.
Huawei spent $70 billion last year to purchase components, including around $11 billion to US companies such as Qualcomm, Intel and Micron
