The U.S. government has temporarily eased trade restrictions imposed last week o...
- The U.S. government has temporarily eased trade restrictions imposed last week on China’s Huawei, a move aimed at minimizing disruption for its customers but dismissed by its founder who said the tech firm had prepared for U.S. action.
The U.S. government said it imposed the restrictions because of Huawei’s involvement in activities contrary to national security or foreign policy interests. “The goal seems to be to prevent internet, computer and cell phone systems from crashing,” said Washington lawyer Kevin Wolf, a former Commerce Department official. “This is not a capitulation. This is housekeeping.”
The government tied Huawei’s addition to the “entity list” to a pending case accusing the company of engaging in bank fraud to obtain embargoed U.S. goods and services in Iran and move money out of the country via the international banking system. Huawei has pleaded not guilty. “I think this is a reality check,” said Washington trade lawyer Douglas Jacobson. “It shows how pervasive Huawei goods and technology are around the globe and if the U.S. imposes restrictions, that has impacts.”
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