Displaying items by tag: China
President Donald Trump and China's Xi Jinping agreed to a truce in their trade war, and Washington pledged to hold off on new tariffs while they negotiate As the United States and China pursue trade talks, there is a “good chance” that more US firms will be granted licenses to sell products to controversial Chinese telecoms giant Huawei, White House economic advisor Larry Kudlow said.
While Trump had signaled the softer position on Huawei, a sticking point in trade talks, by saying US companies could sell equipment “where there's no great national security problem,” Kudlow added a bit of detail.
Trump told Fox News Channel's “Tucker Carlson Tonight” that after meeting with Xi, he believes the two sides are closer to a trade deal.
“We had a very good meeting. He wants to make a deal. I want to make a deal. Very big deal, probably, I guess, you'd say the largest deal ever made of any kind, not only trade,” the president said, according to a transcript released by the channel.
Many US lawmakers, including Senate Republicans like Ted Cruz and Marco Rubio, are concerned about any lifting of the effective ban against Huawei accessing crucial American technology or operating in the US market.
“If President Trump has agreed to reverse recent sanctions against Huawei, he has made a catastrophic mistake,” Rubio tweeted.
Kudlow emphasized that Huawei will remain on the so-called US Entity List- foreign companies and individuals that are subject to specific export and technology transfer licensing requirements.
“This is not a general amnesty,” Kudlow said. “The Commerce Department will grant some temporary additional licenses where there is a general availability” of the products to be sold, he added.
On the general issue of US-China trade talks, Kudlow declined to offer any deadline for the resolution of the dispute between the world's top two economies, though he admitted the talks could “go on for quite some time. There are no promises, there's no deal made, no timetable. Just resuming the talks... is a very big deal.”
US technology behemoth Apple could be one of the main targets for China as they look to retaliate and respond to the US campaign against Huawei by Washington.
Chinese telecommunications conglomerate Huawei has stepped up its legal battle in the United States by filing a lawsuit which is requesting that a US court overturn a federal ban that has been imposed on the company.
Huawei today filed a motion for summary judgment as part of the process to challenge the constitutionality of Section 889 of the 2019 National Defense Authorization Act (2019 NDAA).
In his keynote remarks delivered yesterday at the Potsdam Conference on National Cybersecurity in Berlin, Germany, Ken Hu, Deputy Chairman, Huawei said that in recent days, restrictions, based on ungrounded allegations, have been imposed on Huawei in order to disrupt business operations.
The decision taken by the Trump administration to effectively ban Huawei from the US market has drastically deteriorated already soured diplomatic relations between Washington and Beijing as the rest of the world anxiously looks on.
The market value of SoftBank Group, Uber’s biggest stakeholder, has decreased by $16 billion following Uber’s disappointing initial public offering.
Following months of speculation it is now being reported in the United States that President Donald Trump will sign an executive order that will ban US companies from using telecommunications equipment made by Huawei.
The founder of Chinese tech giant Huawei said that he would “shut the company down” if the Chinese government asked them to eavesdrop on phone call conversations, according to a senior executive.
The fifth court hearing for Meng Wanzhou's case took place in Canada on May 8. Huawei issued a statement regarding this hearing in which it reveals three new and important disclosures that the lawyers for Ms. Meng made in court. From the outset, Huawei has expressed confidence in Ms. Meng’s innocence. “We have maintained that her U.S.-ordered arrest was an unlawful abuse of process – one guided by political considerations and tactics, not by the rule of law.”