Decision on license to U.S. companies for doing business with Huawei by next week: Wilbur Ross

The U.S. is likely to grant special licensees to U.S. companies who are seeking to maintain non-national security related business ties with China’s Huawei.

According to a statement by U.S. Commerce Secretary Wilbur Ross, the Trump administration may respond by next week, to companies who have requested special licenses to sell goods to Chinese telecoms giant Huawei Technologies Co Ltd.

The Trump Administration has warned of Huawei being a vehicle for Chinese espionage and has placed the company on its “entity list”.

A licensing decision will provide much needed clarity to U.S. companies who have business relationship with Huawei; they have been seeking guidance over the matter ever since President Donald Trump promised to provide them with some relief in late June.

Ross disclosed, so far he has received more than 50 applications for special licenses to do business with Huawei; he expects to receive more.

“The president and I met with representatives from the supply chain industry a week ago and a number said they have not sent the requests,” said Ross. “We are interested in getting them all together to see them as a unified bloc.”

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

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