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US-China Trade War: Trump Administration To Loosen Restrictions On Huwaei But Will Company On Blacklist
President Trump talks to Xi Jinping during the G20 leaders summit in Hamburg.
Following US President Donald Trump’s announcement at the G20 Summit in Osaka, Japan that he would be lifting restrictions on American firms dealing with Chinese telecom giant Huawei, his administration has now revealed the actual details of what steps will be taken in that direction, reports The Verge.
First of all, Huawei will still remain on the official ‘Entity List’, but under certain conditions, companies will be granted license to trade with it. US Commerce Secretary Wilbur Ross has clarified that such licenses would only issued if there was no perceived threat to national security.
The Director of the White House National Economic Council, Larry Kudlow, said the US government would continue to not buy Huawei parts, but contracts would be allowed for critical non-security needs.
However, it still remains to be seen what exactly will be meant by the national security interests of the US and which products will continue to be affected thus. Moreover, in case the trade talks end up stalling again, the whole loosing of restrictions may go back to square one.
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