Reuters
- The US is set to give Huawei another 90 days to buy from American suppliers, extending an agreement set to lapse on August 19, according to Reuters.
- The situation surrounding the license has become a key bargaining chip for the US in its trade negotiations with China.
- US President Donald Trump and Chinese President Xi Jinping are expected to discuss Huawei in a call this weekend, a source told Reuters.
- Visit Business Insider’s homepage for more stories.
The US Commerce Department is expected to extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from US companies so that it can service existing customers, sources familiar with the situation told Reuters.
The "temporary general license" will be extended for Huawei for 90 days, the sources said.
The extension renews an agreement set to lapse on August 19, continuing the Chinese company’s ability to maintain existing telecommunications networks and provide software updates to Huawei handsets.
The situation surrounding the license, which has become a key bargaining chip for the United States in its trade negotiations with China, remains fluid and the decision to continue the Huawei reprieve could change ahead of the Monday deadline, the sources said.
US President Donald Trump and Chinese President Xi Jinping are expected to discuss Huawei in a call this weekend, one of the sources said.
Read more: Huawei’s highly anticipated foldable phone has been delayed yet again
The world’s largest telecommunications equipment maker is still prohibited from buying American parts and components to manufacture new products without additional license approvals.
The US government blacklisted Huawei alleging the Chinese company is involved in activities contrary to national security or foreign policy interests.
The United States says Huawei’s smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.
The Commerce Department late on Friday declined to comment, referring to Commerce Secretary Wilbur Ross’s comments to CNBC television earlier this week in which he said the existing licenses were in effect until Monday.
Asked if they would be extended he said: "On Monday I’ll be happy to update you."
See Also:
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- Apple CEO Tim Cook has met Trump at least 5 times in a year in a desperate bid to keep him on-side amid the trade war
- Amazon, Facebook, and Google come out swinging after being slammed with an ‘unjustifiable’ new tax on their sales
Source: Business Insider –