Mr Trump's decision to allow United States firms to sell "high-tech" products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker yesterday, even as some experts wondered what had changed. Inasmuch as stock market jitters represent the only real short-term pressure on the American side to make a deal, this should give the Trump administration's negotiators a great deal more breathing room.
Mr Kudlow emphasised that Huawei will remain on the so-called US Entity List - foreign companies and individuals that are subject to specific export and technology transfer licensing requirements.
To get talks started again, Trump said in Japan he would not impose any new tariffs on Chinese imports - "at least not for the time being" - but would not lift any either.
Moreover, the USA president announced lifting the ban against Chinese telecom equipment supplier and smartphone brand Huawei Technologies Inc., allowing US tech companies to sell products to the Chinese firm. By agreeing to purchase us agriculture goods, China enabled Trump to "back down from his hollow threat to impose tariffs on Chinese consumer goods", Shepherdson said in his recent note.
Meanwhile, Huawei's CFO, Meng Wanzhou, the daughter of company founder Ren Zhengfei, is fighting extradition from Canada to the USA on fraud charges.
All that talk about Huawei being stricken from using Google's Android operating system?
That led many to speculate new Huawei phones would not have access to Google apps like YouTube and Google Chrome - the world's most popular apps - a deathblow to Huawei phones sales in Europe and the US.
Following a U.S. trade ban with select Chinese companies, the United States government said American companies couldn't sell their products to those companies.
Maple Leafs to sign Spezza
Even Cody Ceci was caught off guard when he first heard word that he could be headed into the Toronto Maple Leafs. In 74 games with the Senators last season, Ceci had 26 points (seven goals, 19 assists).
The US has successfully undermined the global outreach of China's controversial communication giant Huawei, which is under growing suspicion that the company cooperates closely with China's intelligence services.
Trump has pushed companies to keep their production in the U.S.
He noted that the U.S. Commerce Department would evaluate in the next few days whether to take Huawei off its entity list.
Mr Trump's decision to relax the ban on Huawei attracted criticism domestically.
Trump said he would hold back on new tariffs and that China will buy more farm products.
It's unclear whether the softening of the ban extends to Huawei's controversial 5G network proposals, but it nearly certainly applies to Google and Android.
National Economic Council Director Larry Kudlow said Sunday that the granting of licenses only applies to general merchandise. Huawei CEO Ren Zhengfei says that Huawei will see a financial loss of $30 billion over the next two years, but American tech companies hurt as well - which explains their plea to President Trump about lifting the trade restrictions. That's a very important point of these talks.
Comments