Just in! Trump lifts Huawei ban, to resume trade talks with China


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This might just be the best of news for fans of Huawei World over. U.S. companies have once again been given the nod to sell to the embattled Chinese firm. President Trump made the disclosure earlier today at a news conference on the sidelines of the G20 summit in Osaka.

It’s a surprising turnaround, and it is coming weeks after the Trump administration labeled the tech behemoth a National security threat. The announcement doesn’t entirely lift the whole ban, but could significantly enhance the Chinese company business.

Besides lifting the trade ban on Huawei, Trump announced the States and China would resume trade talks that broke down last month. Consequently, Trump also agreed to put on hold the idea of putting additional Tariff on China for the “time being,” and that he’ll allow U.S. companies to supply Huawei Technologies Co., though the issue of allowing Huawei to sell its products, which include smartphones, laptops, and communications infrastructure technologies, to the U.S. has not been changed.

As part of the truce, Chinese President Xi Jinping promised to buy “tremendous” amounts of U.S. agricultural products in exchange. “We’re going to give them a list of things we’d like them to buy,” Trump said at a news conference following the Group of 20 summits in Osaka, Japan. The entire trade ban could become a thing of the past if the whole trade talk ends well.

Read the full statement below;

one of the things I will allow, however, is, a lot of people are surprised we send and we sell to Huawei a tremendous amount of product that goes into the various things that they make. And I said that that’s okay, that we will keep selling that product. These are American companies… that make product and that’s very complex, by the way, and highly scientific. And in some cases we’re the ones that do it, we’re the only ones that do it. What we’ve done in Silicon Valley is incredible, actually and nobody has been able to compete with it, and I’ve agreed and pretty easily, I’ve agreed to allow them to continue to sell that product. So American companies will continue and they were having a problem, the companies were not exactly happy that they couldn’t sell because they had nothing to do with whatever it was potentially happening with respect to Huawei, so I did do that.

Source :

Bloomberg

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