G20 Summit in Osaka (Japan) is already giving itsThe results regarding Huawei, a Chinese company, are very encouraging: US President Donald Trump said that a ban on the sale of their technologies and components to a Chinese manufacturer would be lifted from US suppliers. The abolition of restrictions was made possible after Trump’s talks with PRC Chairman Xi Jinping. In addition, it was stated that the United States would not interfere with the cooperation of its allies with Huawei in using their network equipment to operate 5G networks.
China Xinhua News Agencysuggests that the trade war between the two largest economies in the world is fading away: the US government agreed not only not to introduce new sanctions against Huawei, but also promises to think about removing all existing trade restrictions from it, and after discussing with the Department of Commerce, and excluding blacklist The issue of additional taxes, which were supposed to impose Chinese goods, may also become irrelevant.
Direct speech from Donald Trump: “US companies can continue to sell their Huawei equipment. I gave them permission. I like our companies selling something to others. Our companies were initially very upset, but we are lifting the ban. If it does not harm national security, we allow them to cooperate. ”
Chinese President Xi Jinping and U.S. Meeting for the next stage.
The G20 summit in Osaka. pic.twitter.com/qFciHIyGll
- China Xinhua News (@XHNews) June 29, 2019
After America declares sanctions against Huaweithe company did not survive the best of times: it lost key partners (Intel, Microsoft, Qualcomm, Broadcom, ARM and others) and licenses for the Android operating system from Google, while economists predicted sales revenue losses in the foreseeable future, within a few months, by 30 billion dollars. But it turned out that boomerang sanctions also hit the US: American suppliers lost one of the most important customers, consuming the components for the production of smartphones in tangible quantities, as China is the second largest smartphone manufacturer in the world. So for American companies, permission to sell their equipment to Chinese manufacturers is also good news.