Huawei's temporary trading reprieve gets extended
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Huawei was placed under a training restriction by a US executive order, preventing the firm from doing business with U.S companies like Google and Microsoft. Later the Department of Commerce initiated a 90-day reprieve that allowed the firm to continue trading to fulfil existing contracts. That limited license is due to expire on Monday, the 19th of August.
Reuters reports that Commerce is due to extend the trading license for another 90 days. This allows the firm to continue to maintain its existing devices and communications network. While President Trump earlier indicated that Huawei would be allowed to continue to trade with US companies, that more comprehensive reprieve has yet to materialise in practice.
Even still, Huawei remains a bargaining chip between China and the US in its growing trade war. Huawei is one of the largest symbols of Chinese technological achievement and has its fingers in many global pies. For the US to cripple its business would be a blow to the country, and both sides know it.
Source: Reuters
