Huawei rejected any significant impact of new U.S. license extension

China’s Huawei Technologies on Monday came dismissing a new 90-day extension by the U.S. government allowing American firms to continue business deals with the Chinese company. Huawei not only call the extension by the Trump administration as making little difference to the company but once again raised its voice for being treated unfairly by the United States.

Responding to national security risks arising from the telecommunication business operations, regulators in the United States are taking several measures regarding telecommunication firms to minimize those risks. And part of that rules crafting, U.S. Commerce Department in May added Huawei to an economic blacklist, but has now allowed the Chinese firm to purchase some goods from the American companies.

The decision by the Trump administration to extend the license for further 90 days was made to reduce the disturbance for Huawei’s customers, especially for those who are operating in the rural parts of the United States.

The latest extension would not be impacting substantially to company’s business in either way, Huawei said on Monday, adding that the decision does not change the fact that Huawei has been treated unfairly and that will remain to be continue.

After a year-long trade tensions between the United States and China, both countries are now trying to resolve the matter, of which Huawei is one of the most visible and biggest targets.

On Tuesday, Chinese government also repeated its hopes of Chinese companies to be treated in a fair way, and urged U.S. government to shun the practice of misusing export controls to single out the companies of other countries in the name of national security and also asked U.S. not to make a trade problem a political issue, said Geng Shuang, a Foreign Ministry spokesman.

The decision of Trump administration of adding Huawei to the entity list came to be harming more to the United States than it harmed Huawei, the company said.

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Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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