Connect with us

Hi, what are you looking for?

Economy

Trump slams China’s Huawei, halting shipments from Intel, others — sources

NEW YORK/WASHINGTON — The Trump administration notified several Huawei suppliers, including chipmaker Intel, that it is revoking certain licenses to sell to the Chinese company and intends to reject dozens of other applications to supply the telecommunications firm, people familiar with the matter told Reuters.

The action against Huawei Technologies—likely the last against the company under Republican President Donald J. Trump’s administration—is the latest in a long-running effort to weaken the world’s largest telecommunications equipment maker, which it says is a threat to US national security and foreign policy interests.

The notices came amid a flurry of US actions against China in the final days of the Trump administration. Democrat Joseph R. Biden, Jr., will take the oath of office as president on Wednesday.

An Intel Corp. spokesman had no immediate comment, and a Commerce Department spokesman did not immediately return requests for comment.

In an e-mail seen by Reuters documenting the actions, the Semiconductor Industry Association said on Friday the Commerce Department had issued “intents to deny a significant number of license requests for exports to Huawei and a revocation of at least one previously issued license.” Sources familiar with the situation, who spoke on condition of anonymity, said there was more than one revocation.

The e-mail said the actions spanned a “broad range” of products in the semiconductor industry and asked companies whether they had received notices.

The e-mail noted that companies had been waiting “many months” for licensing decisions and with less than a week left in the administration, dealing with it was a challenge.

A spokesman for the semiconductor group did not immediately respond to a request for comment.

The United States put Huawei on a Commerce Department “entity list” in May 2019, citing national security concerns, restricting suppliers from selling US goods and technology to the company.

But some sales were allowed and others were denied while the United States ratcheted up the restrictions against the company, including expanding US authority to require licenses for sales of semiconductors made abroad with American technology.

Before the latest action, some 150 licenses were pending for $120 billion worth of goods and technology, a person familiar with the matter said, which had been held up because various US agencies could not agree on whether they should be granted. — Karen Freifeld and Alexandra Alper/Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global plastic pollution treaty, weeks...

Economy

By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded its growth forecast for the Philippines for this year and 2023, citing an “accommodative”...

Economy

THE PHILIPPINE auto industry’s sales recovery will likely be derailed if a measure reimposing excise taxes on pickup trucks is signed into law, according...

Economy

THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected to...

Economy

THE ASIAN Development Bank (ADB) is planning to allocate at least $14 billion for a program aimed at easing a food crisis in the...

Investing

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Investing

The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.