• Uncategorized

In brief: Huawei restricted from buying components from US firms

nThe Trump administration officially added China’s Huawei to its trade blacklist, enacting restrictions that will make it nearly impossible for the telecom equipment giant to do business with US companies, Reuters reports.nThe Commerce Department issued a rule that put Huawei on its so-called “Entity List,” effectively banning the company from buying components from US firms without government approval.nMembers of Congress and administration officials said the action would make it difficult for the telecom firm to sell many products because of its reliance on suppliers in the US.nThe ban could also have “direct and indirect effects on Japan,” said Taro Aso, the country’s finance minister. “There are Japanese companies that supply parts to Huawei, and supply chains are intertwined in complex ways.”n