• Donald Trump declares the business with Huawei as a national threat and hence forth has declined all the business opportunities with the company.
   
• The existing contract of the Commerce Department is expected to end sooner.

The United States President Donald Trump has reportedly announced that he plans to refrain from conducting business with the Chinese technology giant Huawei owing to the national security concerns following the extension of the company’s contract.

As per trusted sources, Trump has admitted on not doing the business with the company because of the national security threat. Apparently, the President is about to decide on the plan in the days to come, regarding the issue.

Meanwhile, the sources reported that the Commerce Department of the country was planning on the extension of the company’s license for over 3 months permitting it to resume the business with the US companies. It has been reported that the existing agreement is expected to come to an end sooner.

Speculation has it that the Commerce Department has put Huawei on a blacklist in May after the President declared a national emergency over threats to the United States technology. The blacklist restricts the U.S. companies from trading the technology to Huawei unless they are granted a special license.

Reportedly, Trump and Xi during the G-20 summit in June agreed to bring to halt the trade war as the two fronts required to restart trade negotiations. However, Trump allowed the sales of products to the company.

Following the declaration made by the President after his meeting with Xi, the White House faced a political backlash in the Congress over the President’s comments on Huawei. According to the economic advisor of White House, Larry Kudlow, the administration did not grant the company a general pardon.

Subsequently, the trade war has also intensified significantly after Trump’s June meeting with Xi. Trump earlier announced to impose a 10 per cent duty on over USD 300 billion in the products imported from China which he later called off due to apprehensions about the holiday season.

Source credit: https://www.cnbc.com/2019/08/18/trump-says-he-doesnt-want-to-do-business-with-huawei-due-to-national-security-concerns.html