Robert Besser
04 Feb 2023, 13:40 GMT+10
WASHINGTON D.C.: The Biden administration has stopped issuing export licenses to US companies seeking to ship most items to China's Huawei.
While officials in the U.S. Department of Commerce have granted licenses for some American firms to sell certain goods and technologies, Huawei has faced US export restrictions involving items for 5G and other technologies for several years.
In 2020, Qualcomm received permission to sell 4G smartphone chips to Huawei.
Huawei and Qualcomm declined to comment on the report, which was earlier reported by Bloomberg and the Financial Times.
"China opposes the US abusing an overly broad notion of national security to suppress Chinese firms unreasonably," Chinese foreign ministry spokesperson Mao Ning said during a press conference in Beijing this week.
The US move "goes against the principles of the market economy and rules of international trade and finance, hurts the confidence the international community has in the US business environment and is blatant technological hegemony," Mao added.
In 2019, Huawei was placed on a US trade blacklist in 2019, restricting most US companies from supplying it with goods and technologies, unless granted approval.
US officials have continued to tighten controls, in an effort to stop Huawei from buying or designing the semiconductor chips used in most of its products.
In December, Huawei said its overall revenue was some $91.53 billion, slightly lower than in 2021 when US sanctions caused its sales to decline by some 30 percent.
Get a daily dose of Philadelphia Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philadelphia Herald.
More InformationWASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...
BEIJING, China: Following the inability of China Huarong Asset Management Co Ltd to release financial reporting obligations in 2020, China ...
ZURICH, Switzerland - Depositors will be fully protected, shareholders will have their equity dwarfed, while bond holders will be largely ...
HANOI, Vietnam: SpaceX, Netflix and Boeing will join what is described as the "biggest-ever" U.S. business mission to meet in ...
TAIPEI, Taiwan: Reuters reported that after winning an order to manufacture wireless AirPods earphones for Apple for the first time, ...
TAIPEI, Taiwan: The founder of chip manufacturer TSMC, Morris Chang, said that he supports the efforts of the US to ...
FRANKFURT, GERMANY: Authorities said that as part of a crackdown on gangs suspected of blowing up ATM machines and stealing ...
BERLIN, Germany: Germany will send a cabinet minister to visit Taiwan next week, at a time when Berlin is reviewing ...
ZURICH, Switzerland - Depositors will be fully protected, shareholders will have their equity dwarfed, while bond holders will be largely ...
ATLANTA, Georgia: Data from the Centers for Disease Control and Prevention released this week showed that in 2021 during the ...
SAN FRANCISCO, California: Demands by environmentalists have resulted in the passing of rules in which natural gas-powered furnaces and water ...
WASHINGTON D.C.: The US government has charged exiled Chinese businessman Guo Wengui with being the mastermind behind a complex conspiracy ...