US postpones trade ban on Huawei for next 90 days
August 20, 2019 | Investopaper
The US has postponed the ban on the Chinese tech giant company Huawei for the next 90 days. This was confirmed by the US Commerce Secretary, Wilbur Ross. Previously, the US blacklisted Huawei in May by showing national security concerns.
Following the charge, the company was given a temporary permit to perform trade activities with the US. The temporary permit expired on Monday. However, Mr. Ross also informed that the US has blacklisted 46 Huawei affiliates too. This means the country will not be performing trade activities with these firms too.
The reason for postponing the ban is to allow companies like Google to do business with Huawei while adjusting to the restrictions. This would assist the US customers, Mr.Ross added.
Speaking about the US move, Huawei said that the decision to blacklist 46 other Huawei affiliates felt like politically motivated. Releasing the statement, the firm said: “Today’s decision won’t have a substantial impact on Huawei’s business either way.”
Previously, the extension of the ban seemed unlikely after Trump said that the country may not do business with Huawei at all.
