The Trump administration has revoked licenses – estimated to be worth hundreds of billions of dollars – from tech firms exporting products to Chinese telecommunication company Huawei.
“The Trump administration notified Huawei suppliers, including chipmaker Intel, that it is revoking certain licenses to sell to the Chinese company and intends to reject dozens of other applications to supply the telecommunications firm,” Reuters first reported.
The move is expected to be that last shot against the Chinese telecommunications company which collaborates with the Chinese Communist Party’s military and provides the regime backdoor access to its data and devices.
“In an email seen by Reuters documenting the actions, the Semiconductor Industry Association said on Friday the Commerce Department had issued “intents to deny a significant number of license requests for exports to Huawei and a revocation of at least one previously issued license,” Reuters continued.
The move could potentially jeopardize $300 billion worth of trade of “goods and technology” with Huawei:
Before the latest action, some 150 licenses were pending for $120 billion worth of goods and technology, which had been held up because various U.S. agencies could not agree on whether they should be granted, a person familiar with the matter said. Another $280 billion of license applications for goods and technology for Huawei still have not been processed, the source said, but now are more likely to be denied.