President Trump rolls back Huawei ban, kind of

President Trump rolls back Huawei ban, kind of 1
What just happened? Chinese tech giant Huawei has been enduring a harsh situation after many countries have said that the company can play no part in national digital infrastructure projects. But only the US has gone so far as to impose a ban on trading with the company more widely. That may be about to change, given comments by President Trump at the G20 summit this week.

World leaders are currently gathered for the G20 summit in Osaka, Japan where heads of state ostensibly look for solutions to some of the major issues facing the international community. But on the sidelines, discussions happen that focus more on bilateral problems. In the case of the US and China, the two countries are attempting to navigate the ongoing trade war they are engaged in.

President Trump said that the US would not be lifting existing tariffs or adding any new ones for the time being, but interestingly he added that American companies would once again be able to do business with embattled tech giant Huawei, effectively overturning a ban put in place last month by the Department of Commerce.

During a press conference, President Trump said that “US companies can sell their equipment to Huawei. I’m talking about equipment where there’s no great national emergency problem with it.” He continued, “We have a lot of great companies in Silicon Valley and based in different parts of the country, that make extremely complex equipment – we’re letting them sell to Huawei.”

This is interesting for a number of reasons. First, it says nothing about US companies being able to buy from Huawei, as the President has only commented on trade happening in one direction. But more importantly, Washington has said in the past that Huawei is a threat to national security, so once again Trump may be making decisions that go against advice given by his own administration.

While it’s unclear whether or not this is a full reversal of the Department of Commerce ban, if it is, this will be a fairly massive concession from the US to China in the context of the ongoing trade dispute between the two nations.

For now, there’s no real detail of how this will work in practice, but we’ll be sure to follow developments as they come.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022
Is The Crypto Market Combating A Lehman Brothers Moment?
June 30, 2022

CryptoCurrencyUSDChange 1hChange 24hChange 7d
? --- 0.00 % 0.00 %

Bitcoin (BTC) $ 23,105.00
Ethereum (ETH) $ 1,689.58
Tether (USDT) $ 1.00
USD Coin (USDC) $ 0.999915
BNB (BNB) $ 319.05
Binance USD (BUSD) $ 1.00
XRP (XRP) $ 0.364492
Cardano (ADA) $ 0.51117
Solana (SOL) $ 40.45
Polkadot (DOT) $ 8.79