As we already know that the US had banned Huawei back in May this year. However, the company got a temporary permit a few days later. The permit allowed Huawei to trade with the US companies for more 90 days, that is going to end today. However now, as per reported by Reuters, the US Commerce Department will most likely extend the Huawei trade license for another three months.
We hope this time the US and China will manage to reach a permanent solution. However, none of the sides commented on this matter yet. But President Donald Trump and Xi Jinping may discuss the future of Huawei later this week.
US Commerce Department will most likely extend the Huawei trade license for another three months
According to Commerce Secretary Wilbur Ross, more than 50 companies applied special licenses to distribute to Huawei in the past three months. Out of $70 billion that Huawei spent for components in 2018, around $11 billion went to US companies like Qualcomm, Intel, and Micron, mostly for memory chips for its smartphones and 5G antennas.
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