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Trump eases sanctions on Chinese Huawei by signing off licenses

Some U.S. companies will be allowed to do business with the Chinese Huawei Technologies Co after the US President Trump signed in some licenses to enable transactions.

The move is interpreted as an act of goodwill prior to the top brass trade meeting of the US and Chinese officials on Thursday. The U.S. blacklisted the world’s largest telecom-equipment maker earlier this year and restricted Huawei from doing business with American companies. Huawei has been accused of being a national security risk by Washington, which alleged that its equipment could be used to funnel data back to Beijing. The Chinese firm has repeatedly denied those allegations.

The new grant of licenses could ease both Huawei Technologies and  Google to back their slumbering sales as the data giant Google and Huawei both suffered huge losses after the sanctions.

 

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