rtmark
LearnBonds.com

US Companies To Continue Business Relationship With Huwaei, As Trump Offers Extension

Donald Trump

The US commerce department will extend a trade license to US companies to do business with Huawei Technologies. A close source said the extension would last for 14 days.The source said, although the two weeks extension is relatively too short, both parties are making an arraignment to give a much longer break of up to three months.

In May, the US government blacklisted Huawei as part of the government’s trade face-off with the Chinese government. The U.S. gave security reasons for the blacklist, although many believed it’s linked to the economic fight between the two world superpowers.

The US has allowed Huwaei to buy some American-manufactured goods to reduce the issues for its customers that have networks in American rural areas.

Although the trade extension has not been officially announced yet, close sources said everything would be sorted out, and those involved could start enjoying the extension on Monday. The Commerce Department refused to comment on the extension. Also, Huawei’s spokesman declined to comment, as he said the company doesn’t comment on speculation and rumors.

Extension of license a step to trade war resolution

Wilbur Ross, the US Commerce Secretary, informed Fox Business News yesterday that some Rural Americans will benefit immensely from the extension. He further stated that the temporary license would spur businesses in these areas that need Huawei’s 4G and 3G networks to operate efficiently.

US Companies To Continue...Huw

According to him, telephone services are giving rural communities in the US enough problems. Withholding the license from them could cripple them completely. He reiterated that the US government doesn’t intend doing that. So, the main reason for allowing this temporary business license is to support them and allow them to operate, he commented.

This development could be linked to the ongoing trade negotiation between China and the United States. Both countries are currently negotiating to settle the trade war between them that has lasted for more than a year.

When the US government blacklisted Huawei, it issued out a statement explaining that the US government has a strong reason to believe the company had engaged in activities that are against the government’s national security policies. The US government stated that it blacklisted Huawei to serve as a warning for obstruction on their foreign policy or national security. However, Huawei has denied the accusation several times.

On Thursday, U.S. Attorney General, William Barr, pointed out that the US government doesn’t trust ZTE Corp and Huawei in its US business climate. He supported a proposal that prevented US wireless network operators from obtaining an $8.5 billion fund from the government to buy Huawei’s equipment.

In May, Donald Trump declared a national emergency on the purchase of Chinese telecommunications equipment by U’S companies. The trade-off has been ongoing for the past year. But it seems the two governments want to take their foot off the pedal, as seen in recent developments.

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.