Huawei says Trump's ban is in no one's interest
- Elena Summers
The move will stop the telecom giant from buying parts and components from USA companies without first getting approval from Washington.
With Huawei getting added to the "entity list" anyway, the U.S. might not need to extradite Meng, or at least not bad enough to keep Canada enmeshed in a vendetta.
"This decision is in no one's interest", spokesman Chasen Skinner said in an email.
Google officials did not immediately respond to a request for comment. Little-known network gear manufacturer NeoPhotonics' stock price closed down 21 percent, while semiconductor firm Qorvo was off 7.1 percent. Shares of Xilinx closed down 7.3 percent while those of rival chipmaker Qualcomm Inc fell 4 percent.
President Donald Trump's new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the US market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.
Details of her unwillingness to follow suit came after Mr Trump effectively blocked Huawei products from the US.
Huawei espionage rejects allegations.
The Trump administration has pushed USA allies to ban Huawei equipment from their mobile infrastructure, saying its close ties to the Chinese government pose a national security risk. It has been preparing for a ban by trying to boost sales to Huawei's non-Chinese rivals and conserving cash, says Genovese, but he doubts this will succeed.
Such trade bans can be crippling.
While it doesn't name specific countries or companies, it follows months of USA pressure on Huawei.
The Huawei confrontation has been building for years, as the world's largest company has raced to a huge advance on rivals in developing next-generation 5G mobile technology.
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Officials say two people, who are believed to be window washers, were on the lift when it started swinging out of control. The cause of the accident is now under investigation, according to Oklahoma City Fire Capt David Macy.
The sanctions on Huawei were also likely to have ramifications beyond the company itself, rattling the global tech supply chain, analysts said.
"That doesn't mean every license would be denied, but it would be on a case-by-case basis", he said.
Huawei was the world's third largest purchaser of semiconductors a year ago, accounting for 4.4% of global market share, behind only Samsung Electronics Co Ltd and Apple Inc, according to Gartner, a research firm.
Many see the US ban implemented this week as a strong message to European partners who are still considering working with Huawei to establish their next generation telecom infrastructure. It has never before been used in a way that restricts an entire industry.
MF: Last summer, the administration reversed a Commerce Department decision that would have crippled the Chinese tech giant ZTE, with Trump saying too many jobs would be lost in China. "Huawei would essentially be a sitting duck". But how do you take it that the controversy surrounding Huawei is being discussed in national security terms and not in terms of competition among the company and its competitors? Google, with its Android operating system, is a major supplier to Huawei, as are other big USA companies.
5G will enable revolutionary new technologies like artificial intelligence, driverless cars and automated gadgets and factories, and Huawei has the world's most advanced and cheapest 5G capacities in the world.
Nelson Dong, a partner at law firm Dorsey and Whitney, disagreed with that assessment.
"It signals to USA friends and allies how far Washington is willing to go to block Huawei", said Adam Segal.
And in a clear strike against Huawei, the Commerce Department separately announced on Wednesday that it had placed Huawei and its dozens of affiliates on a list of firms deemed a risk to national security. Even so, he said, some companies decline to sell to customers who are on the restricted list, even if the sale could be defended legally.
The U.S. government also said it was subjecting the Chinese company to strict export controls.
It's not been all bleak, though, with some traders, particularly in Europe, focusing on a potential US decision to postpone tariffs on cars.
The Commerce Department first gave notice on Wednesday that it was adding Huawei to the list. It will take "necessary measures" to safeguard the interests of the Chinese company, the Chinese foreign ministry said.
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