2/2
© Reuters. A Huawei logo is pictured at Mobile World Congress (MWC) in Shanghai

2/2

WASHINGTON (Reuters) – President Donald Trump’s decision to allow expanded sales of U.S. technology supplies to Chinese telecommunications giant Huawei will only apply to products widely available around the world, and leave the most sensitive equipment off limits, a top White House aide said on Sunday.

“All that is going to happen is Commerce will grant some additional licenses where there is a general availability” of the parts the company needs, National Economic Council chairman Larry Kudlow said on “Fox News Sunday.”

U.S. microchip firms in particular “are selling products that are widely available from other countries … This not a general amnesty … The national security concerns will remain paramount,” he said.

The partial lifting of restrictions on Huawei was a key element of the agreement reached over the weekend between President Donald Trump and Chinese President Xi Jinping to reopen stalled trade negotiations between the two countries.

It has drawn bipartisan criticism from U.S. Senators concerned that Huawei has close ties to Chinese intelligence agencies that could exploit the global distribution of its technology.

“There will be a lot of pushback if it is a major concession,” to Huawei, South Carolina Republican Senator Lindsay Graham said on “Meet the Press.”

Huawei, the world’s biggest telecommunications equipment maker and No.2 smartphone maker, denies its products pose a security threat and has sought to fight back in U.S. courts since Washington put it on an export blacklist last month. Kudlow said that designation would remain.

Kudlow said the broader concerns about Huawei will be part of the renewed discussions.

The agreement over the weekend “is not the last word,” Kudlow said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-06-30