US blacklists Chinese telecom major Huawei
In a move that could possibly escalate the US-China trade war, the Trump administration has imposed heavy sanctions on Chinese telecom equipment major Huawei, even as treasury secretary Mr Steve Mnuchin is planning a trip to China. It has added Huawei along with its 70 affiliates to its “Entity List”, which effectively prevents them from acquiring components and technology from US firms sans the approval of the government. Trump has signed an executive order that stops US companies from using telecom equipment by companies that are considered to pose risks to national security.
Senator Mark Warner said that the decision reflects the “This is a needed step and reflects the reality that Huawei and ZTE represent a threat to the security of US and allied communications networks”.