Trump Administration considers to ban Huawei from U.S. banking system
Chinese telecoms giant, Huawei came into the spotlight again amid the prolonged U.S.-China tensions as the Trump Administration reportedly considered banning the company from the U.S. financial system earlier this year.
According to a Reuters report, the White House has considered putting Huawei on the Department’s Specially Designated Nationals list, rendering the company unable to trade in U.S. Dollar.
Huawei has yet to respond to the report. Though, the company is already starting to minimize U.S. influence in its operations should the ban occur.
U.S. Commerce Department Secretary Wilbur Ross said that Huawei has been encouraging its suppliers to violate US law by telling them to move operations offshore in a bid to avoid US sanctions.
In May, Huawei was put on a trade blacklist by the U.S. over national security concerns. Suppliers had to apply for special licenses to sell equipment to Huawei.
Samsung revs up, introduces 5G Galaxy S20 to counter rivals Apple, Huawei12.02.2020
Hyundai considers expansion with another electric auto startup29.01.2020
Johnson gives Huawei limited role in British 5G network, defies US to ban Chinese firm15.01.2020
China adds $58 billion into banking system as Lunar New Year draws near