After speaking with the leader of China, the US president agreed to resume trade talks.
US President Donald Trump said that US companies will again be able to sell Chinese Huawei equipment if the transactions do not threaten national security. He said this at a press conference after meeting with Chinese leader Xi Jinping at the G20 summit.
Our companies were very upset. These are great companies, you all know them. But now we are resolving this if there is no problem with national security.
According to Trump, the United States and China will resume trade negotiations between countries that have slowed global economic growth. Also, the States will indefinitely refrain from introducing new tariffs in this area. It is not yet clear when the American business will be able to resume sales of Huawei.
The Ministry of Commerce, which Huawei blacklisted in May, did not respond to CNN’s request to change the status of a Chinese company. The White House also ignored the question of the TV channel about whether the government has already asked to consider this issue. Huawei responded to Trump’s statement in one of the official Twitter accounts.
Before the imposition of restrictions, American companies Intel (INTC) and Micron (MICR) were among the largest suppliers of computer chips for Huawei. According to CNN, Micron faced a drop in revenue, as smartphone sales fell by 40% in the six weeks of the ban. At the same time, on June 26, Bloomberg, citing sources, reportedthat Micron and Intel found legal ways to circumvent sanctions and resume part of Huawei’s supplies. The fact that American companies after the ban shipped components in the millions of dollars, also wrote The New York Times.
On May 16, the US Commerce Department banned US companies from working with Huawei due to concerns that Chinese intelligence services might use technology. After that, contractors, including Google and ARM , began to publicly sever relations with the Chinese corporation. Huawei denies the charges.
The inclusion of Huawei in the “black list” means that US companies can not do business with Chinese without a special license, and she can not buy technology from US manufacturers.