Licenses of US companies allowing trade with Huawei to come shortly

Licenses of US companies allowing trade with Huawei to come shortly

Wilbur Ross, The secretary of commerce in his recent interview has said that the licenses for the companies in United States to sell their products to Huawei which is a tech giant from China is going to come very shortly.

Ross has said that these are licenses for a few of the 260 companies which have applied for doing business with the Chinese companies that have been blacklisted are going to come really soon as both the countries are taking steps to come closer to what is being called the Phase One of their trade agreement.

Ross has admitted that the numbers of applications according to him are more than what they had anticipated. He said that due to the entity lists, a denial is being presumed so as per him the safe thing for such companies would be to assume that there is going to be a denial although he did say that the approvals are going to be there for a lot of them.

Read Also:  Google Announces It Will Update Its Terms Of Service On March 31

The administration of Trump had put a stop on the US companies from the selling of their components and software to the Chinese Tech company Huawei in the month of March citing concerns over national security. Then onwards it has added a further 28 companies to the blacklist which include firms engaged in artificial intelligence.

The companies now need to have a license for continuing their business with any of the firms.

In the month of June, President Trump had announced that he is going to allow the companies from United States to sell a few specific products to the Chinese tech giant and he later said that he is going to speed up the process of approving the licenses

Read Also:  FB employees are taking lessons from Hong Kong hackers