Published: Tue, July 02, 2019
Worldwide | By Lisa Hogan

Trump makes minor Huawei concession following pleading from U.S. tech sector

Trump makes minor Huawei concession following pleading from U.S. tech sector

The President also said "we're talking about equipment where there's no great national security problem with it". This started a chain of impositions where a number of USA based companies started pulling their hands from business towards Huawei which was one of the largest Chinese companies listed in the Entity List.

The 25 percent tariff on all products included on List 3, announced earlier this year, still stands, and the exclusion process for List 3 began on Sunday, June 30, 2019.

When the president said on Saturday that he would allow USA corporations to "sell their equipment" to Huawei, barring any "national security problem", several lawmakers from both parties condemned the move, which appeared to be a reversal of economic restrictions the US imposed on the Chinese firm for violating American sanctions against Iran.

Europe continued the strength shown by Asia as markets were taken somewhat by surprise by Trump saying that he would not introduce more tariffs on Chinese goods, plus he also seemed to pull back a bit on his tough stance on Huawei. White House economic adviser Larry Kudlow told Fox News that Huawei would remain on the entity list - where it was placed in May and which means that U.S. firms must apply for special permission to sell to it - but USA companies could sell it chips and services which could be found on "general markets".

He has, however, criticised Canada for the arrest of his daughter, saying that a "smarter country" would have ignored the United States request to extradite Meng, Huawei's chief financial officer (CFO), who was charged with bank fraud, wire fraud, and conspiracies to commit bank and wire fraud.

It was always a bargaining chip in an ongoing trade war.

It looks like Trump got the memo that the collateral damage from his decision to ban U.S. companies from doing business with Huawei was starting to mount up.

"This is not a general amnesty", he said.

At a meeting in Osaka trump and XI Jinping have agreed to resume negotiations for the settlement of the trade conflict between the United States and China, which affects the economy of not only the two countries but also around the world.

"The markets appear to be content with the cooperative tone coming out of the meetings". I want to make a deal.

Jacob Parker, vice-president of China operations at the U.S. With 11 rounds of trade talks having come and gone, it remains unclear whether a new round of talks will produce a breakthrough. "So if the U.S. side can do what it says then we will certainly welcome that", he said.

'We got along very well, ' Trump said.

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