The US Commerce Secretary Wilbur Ross said that the US ban on companies selling parts to Huawei will come into effect from Friday (today).
Ross said the under the new regulations, Huawei will require approval before acquiring components and technology from US firms.
Huawei Technologies Co. Ltd. and 70 affiliates are being added to the US Commerce Department’s “entity list”. The move makes it difficult – if not impossible – for the firm to sell certain products, due to reliance on US suppliers.
The secretary said that President Donald Trump sought to “prevent American technology from being used by foreign-owned entities in ways that potentially undermine US national security or foreign policy interests”.
The dramatic move comes as the Trump administration has aggressively lobbied other countries not to use Huawei equipment in next-generation 5G networks. And it comes just days after the Trump administration imposed new tariffs on Chinese goods amid an escalating trade war.
US officials have long feared the Chinese government could use Huawei’s equipment to spy on Americans.
Blacklisting Huawei is likely to have ramifications beyond the company itself: Not only might it disrupt Huawei’s business, but it could also hurt its US suppliers.
A broad US crackdown, announced on Wednesday in an executive order, was the latest shot fired in an escalating trade war that is rattling financial markets and threatens to derail a slowing global economy.
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