Tue. Jul 23rd, 2024

The US is alarmed by Huawei's success, so it revokes eight licenses

Natasha Kumar By Natasha Kumar Jul2,2024

US alarmed by Huawei's gains, revokes eight licenses

The Biden administration has revoked eight 2024 licenses that allowed some companies to supply Chinese telecoms equipment giant Huawei.

This was reported by Reuters.

The Commerce Department, which oversees U.S. export policy, said it had revoked certain licenses.

The revoked licenses included those for high-tech equipment makers Qualcomm and Intel.

The new measures come as Huawei has begun to recover despite Washington's efforts to harm it on national security grounds. Huawei denies the allegations.

It also comes amid pressure from Republican China hardliners in Congress to destroy the company, which shocked the industry last August with a new phone equipped with an advanced chip made by Chinese chipmaker SMIC, in defiance of US export restrictions on both companies.< /p>

Huawei smartphone sales are reported to have increased by 64% year on year in the first six weeks of 2024. The smart car component business has also contributed to Huawei's resurgence.

Huawei was included in the US trade restrictions list in 2019. The designation means the company's suppliers must seek a special license before making deliveries.

But Huawei suppliers have received billions of dollars' worth of licenses to sell Huawei products and technology thanks to policies put in place by the Trump administration that allowed the firm to supply a much broader range of products.

The revoked licenses for Huawei include exercise equipment and office furniture, as well as low-tech components for mass-market consumer products such as touchpads and touchscreens for tablets.

Huawei Technologies Co. is approaching a billion active consumer devices, underscoring the US-sanctioned company's battle with Apple Inc. in the key Chinese market.

Totalitarian China has created a fund of 344 billion yuan, or $47.49 billion, to help its semiconductor manufacturers.

Prepared by: Nina Petrovich

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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