American president says USA won’t do business with Huawei

Published:

On: Aug 2019

The president of the United States of America, Donald Trump said that the American government will no longer make any dealings with the leading telecom giant of China, Huawei due to the trade war between two biggest economies of the world continues to escalate.

Donald Trump, in a statement told that, “We are not ready to do any business with Huawei. And, it’s my final decision that means it’s very simple not doing any business with Huawei. It’s not indicating that our nation won’t agree to do any business and when we make a trade deal.”

“We are recently taking to China, and thus we are not prepared to make an agreement, but we will see what happens, as China willing to do something different, but I am not ready for it. 25 years of abuse and I’m not prepare so fast.”, said by Mr. Donald Trump.

However, the commerce department stated that, it is still generating some special licenses for the firms to restart sales to Chinese telecom firm and the American president’s comment refers to only the ban on the United States government buying from Huawei.

The decision of Donald Trump on Huawei came after the China terminated buying US agricultural products in revenge for American president’s unexpected tariffs threat last week. The China also permitted its currency to decrease against the dollar to major level unobserved since the year 2008.

Chip stocks made a massive hit initially, but thereafter recovered after the simplification. Reportedly, advanced micro devices are now rose about 1 per cent after plunging nearly 2 per cent. Micron technology recorded 2 per cent lower, and Skyworks solutions is slow down over three per cent. Huawei has been a great customer of all these chipmakers.

The American administration backlisted Huawei in the month of May due to the national security worries, as banning it from buying United States chips. But last month, Donald Trump agreed to offer timely basis licensing decisions to permit a group of tech firms such as Google and Broadcom in order to sell to the telecom giant of China.