Skip to main content

US government to issue licenses to companies wanting to trade with Huawei



In the development of the Huawei-US trade tensions, the US Department of Commerce will begin issuing special licenses to companies that wish to keep their business ties with the Chinese tech giant. The news was confirmed by the head of the Commerce of Department Wilbur Ross at the Annual Security Conference on Export Controls and Security.
US government to issue licenses to companies wanting to trade with Huawei
Late last month at the G20 summit, US president Donald Trump confirmed American companies will continue to sell components to Huawei granted that they doesn’t pose a threat to national security. Later on it became clear that US companies would be allowed to sell widely available components which are sold in other markets while more sensitive equipment would remain off limits.
US government to issue licenses to companies wanting to trade with Huawei
Commerce Secretary Ross stated that the new licenses will still have to oblige the previously issued component availability confinements. Furthermore, he restated that the Commerce Department will only issue licenses after evaluating the potential of national security risks.
While Huawei will remain in the infamous Entity List, this is a positive step towards resuming normal operations and prevent large scale losses for both sides.
Source | Via

Labels:

Comments

Post a Comment

Popular posts from this blog

Flipkart, Amazon hit as govt tightens e-commerce norms

The revised e-commerce norms come in the backdrop of several complaints by traders on deep discounts offered by Flipkart and Amazon The government has prohibited e-commerce companies from entering into exclusive deals for products. Tightening e-commerce norms for online retail firms, such as Flipkart and Amazon, the government on Wednesday took a host of steps and barred them from selling products of the companies in which they have stakes. The commerce and industry ministry also prohibited e-commerce companies from entering into exclusive deals for products. “An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity,” the ministry said. Besides, the revised policy on FDI in e-commerce said that services should be provided by e-commerce marketplace entity o...
Post a Comment
Read more