US extends executive order banning Huawei until May 2021

United States extended the executive order banning Chinese company Huawei until May 2021, said a recent report.

As per details, President of the United States Donald Trump extended his executive order, originally signed last May, for one more, declaring a national emergency and halting American companies from purchasing or using telecommunications equipment made by firms considered a national security risk.

Executive order was key to the Commerce Department adding Huawei to its Entity List and effectively banning the tech giant (along with rivals like ZTE) from operating in the country.

Let it be known that The International Monetary Fund IMF Chief  this week also warned the US and China against rekindling a trade war that could weaken a recovery from the coronavirus pandemic. IMF Chief Kristalina Georgieva, told that economy of United States has been particularly hard hit by widespread shutdowns aimed at containing the virus. US government data on Friday showed the unemployment rate surging to 14.7 percent last month. The White House said joblessness could hit 20 percent in May.

US President Donald Trump has threatened to punish China for its handling of the virus by imposing new tariffs, and on Friday suggested he could end a Phase 1 US-China trade deal.