US President Donald Trump has dropped a bombshell by lifting the ban on US sales to Chinese tech powerhouse Huawei.
He made this announcement after he and China’s President Xi Jinping agreed to a cease fire at the 2019 G20 Summit in Japan.
Trump is quoted as saying, “US companies can sell their equipment to Huawei,” he then added, “We are talking about equipment where there’s no great national security problem with it.”
He also said that his administration will hold meetings to discuss how to best handle the firm in order to allow American companies to continue profiting from deals with Huawei. “I’ve agreed to allow them to continue to sell that product so that American companies will continue.”
Huawei is a big customer for a lot of US based companies, spending about US $ 11 Billion on chips made by Intel, Qualcomm and Micron alone. These are also some of the companies that quietly but heavily lobbied for the lifting of this ban to save their revenue.
It is not yet known how soon the ban will be lifted.
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This is a breath of fresh hair who would undoubtedly face a grim future had the ban went on for longer than a month. It is also a relief for the numerous companies whose major sales are to Huawei.
