Huawei has been one of the main sticking points on China’s end in the never-ending U.S.-China trade dispute. While Beijing continues to make concessions – buying up to $50 billion in American agriculture and opening its domestic financial markets – Washington has barely done anything.
Until now…
According to Commerce Secretary Wilbur Ross, licenses for American companies to sell components to Chinese telecommunications juggernaut Huawei are coming “very shortly.”
He told Bloomberg TV that there have been nearly 300 requests to do business with Huawei.
“That’s a lot of applications — it’s frankly more than we would’ve thought,” Ross said. “Remember too with entity lists there’s a presumption of denial. So the safe thing for these companies would be to assume denial, even though we will obviously approve quite a few of them.”
Many had expected that the White House was using Huawei as leverage because China is desperate to grow the brand’s reach/
Leave a Comment