US to grant 90 day license to Chinese tech giant
Despite the ongoing critical trade relations between China and United States, the Trump administration is set to issue a 90-day extension of a license, allowing American companies to do business with the Chinese Tech Giant Huawei technologies.
Reuters reported that after adding Huawei to an economic blacklist in May citing national security concerns, U.S. Commerce Department has allowed it to purchase some goods made in America in a move to improve trade between US and China.
The step is taken as a move to minimize the disruption of the customers. The extension will be announced today when the earlier reprieve is set to expire.
The development comes amid discussions between the United States and China aimed at coming to an initial agreement to resolve a trade war that has lasted for over a year.
In May, President Donald Trump also signed an executive order declaring a national emergency and barring U.S. companies from using telecommunications equipment made by companies posing a national security risk. The Commerce Department was directed to draw up an enforcement plan by mid-October but has yet to publish one.
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