“No way US can crush us” – Huawei founder hits back
The usually publicity-shy Huawei founder Ren Zhengfei has hit back at what he perceives as a politically motivated attack, declaring if “the lights go out in the West, the East will shine”.
The usually publicity-shy Huawei founder Ren Zhengfei has hit back at what he perceives as a politically motivated attack, declaring if “the lights go out in the West, the East will shine”.
The US Department of Justice is rumoured to be pursuing charges relating to trade secrets theft against Huawei, while four politicians have tabled a bill for a ban similar to what ZTE faced last year.
The US Commerce Department has refused to renew an export licence at a Huawei subsidy in Silicon Valley, meaning China cannot access new developments at the site.
The US Department of State has renewed its warning over citizens travelling to China over fears of retaliation following the arrest of Huawei’s CFO in Canada.
T-Mobile US and Sprint are reportedly rubbing regulators the right way, in the continued effort to get the prolonged merger approved, by overtly shunning Chinese kit vendor Huawei.
The arrest of Huawei’s CFO was the culmination of years of investigation by the American government and judiciary, with an apparent helping hand from ZTE.
Meng Wanzhou, Huawei CFO, was arrested in Canada at the request of the US judiciary, with suspicions the company violated trade sanctions placed on Iran by the US.
State-owned Chinese company Fujian Jinhua Integrated Circuit Company (FJICC) and Taiwan’s United Microelectronics have been formally charged with intellectual property theft, targeting a US firm.
The United States Trade Representative will place a second round of tariffs on roughly $200 billion of imports from China, effective September 24, though it looks like Apple is passing through unscathed for the moment.
An open letter signed by a US Senator and three members of Congress to Google CEO Sundar Pichai suggests the internet giant should end its relationship with Huawei on the grounds of national security.
The US Senate has voted 85 to 10 in favour to reinstate penalties on ZTE, despite President Trump’s attempts to ease pressure on the business and effectively save it from extinction.
The last couple of weeks have seen President Trump try to get back on the good side of Chinese authorities by saving ZTE, but confirmation of trade tariffs on Chinese goods is another contradictory twist in the on-going saga.
Senators are planning to derail President Trump’s plans to ease pressure on ZTE, potentially removing the ban on US exports, pointing out the law cannot be bent and ignored to satisfy political objectives.
US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He have reportedly laid the groundwork for a deal which would end escalating tensions between the two nations and save the fast falling ZTE.
A joint-statement released by the US and Chinese government has calmed the stormy waters but vague promises, imprecise objectives and notable omissions have opened the door for criticism.
ZTE employs 75,000 people and sold $17 billion of gear last year, but seems to have been wiped out with one stroke of a US regulatory pen. That’s scary.
If ZTE has acted in violation of US trading regulations there is no question it should be punished, but investor reaction to the ZTE ban perhaps shows US companies depend more on China than vice-versa.
Despite winning him a significant number of votes, if Trump starts a trade war with China it won’t be a happy ending for anyone involved.
The @telecoms podcast returns this week with special guest @paulnolanpr from @ccgroup on the trade press, telco eco hhttps://t.co/bYs3ymbFs1
08 March 2021 @ 14:41:42 UTC
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