- The Trump administration has plans to name Chinese tech firm Huawei to its list of banned exports that would prevent the company from “acquiring U.S. components and technology without government approval.”
- Huawei and 70 affiliates will be named on the “Entity List,” which further escalates the U.S.-China trade war.
- By basically blocking Huawei products like chips from use in American networks, the move could have ripple effects for the firm across the globe, affecting its $105 billion business.
- The Trump administration said the ban is intended to “prohibit transactions posing an unacceptable risk to the national security.”
- A White House statement says the order is to “protect America from foreign adversaries who are actively and increasingly creating and exploiting vulnerabilities in information and communications technology infrastructure and services.”
- Huawei denies that the company poses a danger and accuses President Trump of “industrial sabotage,” and they signaled a willingness to work with the U.S.
- A Huawei statement said: “Restricting Huawei from doing business in the U.S. will not make the U.S. more secure or stronger.”
- The ban has not yet gone into effect.