Zippyjuan
08-19-2019, 10:50 AM
https://www.bbc.com/news/technology-49391420
Trump backing off his trade war as global economies slow. He recently postponed tariffs on a large chunk of Chinese goods until December so he would not ruin Christmas. This delay would put it into December too. He also upped his pressure on the Fed calling for a large cut in interest rates and also for them to start quantitative easing again. That is usually reserved for recessions- not for a still growing economy which he insists is roaring along.
The US Commerce Secretary, Wilbur Ross, has confirmed a ban on Chinese technology giant Huawei will not come into force for another 90 days.
The US blacklisted the company in May because of national security concerns.
Huawei was then granted a temporary permit in order to ease the transition, which was due to expire on Monday.
However, Mr Ross added a further 46 Huawei affiliates would now be added to the US Entity List, a blacklist of firms with which the US will not trade.
The reprieve was designed to allow companies such as Google to trade with Huawei while adjusting to the restrictions.
And Mr Ross said the extension would help US customers.
"We're giving them a little more time to wean themselves off," he said.
Huawei said in response that it was opposed to the decision to add the extra affiliates to the Entity List and felt it was politically motivated.
"Today's decision won't have a substantial impact on Huawei's business either way," the firm said in a statement.
On Sunday, US President Donald Trump said Huawei was a company "we may not do business with at all", which some had interpreted as signalling the reprieve would not be extended.
Trump backing off his trade war as global economies slow. He recently postponed tariffs on a large chunk of Chinese goods until December so he would not ruin Christmas. This delay would put it into December too. He also upped his pressure on the Fed calling for a large cut in interest rates and also for them to start quantitative easing again. That is usually reserved for recessions- not for a still growing economy which he insists is roaring along.
The US Commerce Secretary, Wilbur Ross, has confirmed a ban on Chinese technology giant Huawei will not come into force for another 90 days.
The US blacklisted the company in May because of national security concerns.
Huawei was then granted a temporary permit in order to ease the transition, which was due to expire on Monday.
However, Mr Ross added a further 46 Huawei affiliates would now be added to the US Entity List, a blacklist of firms with which the US will not trade.
The reprieve was designed to allow companies such as Google to trade with Huawei while adjusting to the restrictions.
And Mr Ross said the extension would help US customers.
"We're giving them a little more time to wean themselves off," he said.
Huawei said in response that it was opposed to the decision to add the extra affiliates to the Entity List and felt it was politically motivated.
"Today's decision won't have a substantial impact on Huawei's business either way," the firm said in a statement.
On Sunday, US President Donald Trump said Huawei was a company "we may not do business with at all", which some had interpreted as signalling the reprieve would not be extended.