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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

Document reveals Biden terminated 8 Huawei licenses in 2024.

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Lawsuit Filed Against Biden's Regulation on 'Gig' Work

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The Biden administration has withdrawn eight licenses this year that allowed some companies to send supplies to Huawei as it pressures the resurgent corporation.
“Since the beginning of 2024, (the Commerce Department has revoked eight additional licenses involving Huawei,” the agency said in answer to Republican Congressman Michael McCaul’s query.
Huawei did not respond to a request for comment. Qualcomm and Intel did not reply to after-hours calls for comment.
The papers reveal the Biden administration’s efforts to stop Huawei, which has rebounded despite Washington’s national security concerns. Huawei denies security risks.

Despite U.S. export prohibitions on both businesses, Republican China hardliners in Congress are pressuring the company, which surprised the market last August with a new phone powered by a sophisticated chip from Chinese chipmaker SMIC .
France didn’t comment on the report.

Huawei was restricted from U.S. trade in 2019 on spying concerns. Suppliers must receive a rare license before shipping after being included to the list.
Huawei suppliers have gotten billions of dollars in licenses to sell Huawei equipment and technology thanks to a Trump government regulation that enabled a wider range of commodities to flow to the firm than usual for an entity-listed company.

Commerce said Huawei’s license approvals include “exercise equipment and office furniture and low-technology components for consumer mass-market items, such as touchpad and touchscreen sensors for tablets,” which are widely available in China from Chinese and foreign sources. McCaul will receive the document on Tuesday.
The summary further notes that the agency granted $335 billion in licenses from $880 billion in applications to sell to Chinese entities from 2018 to 2023. The government noted that out of $560 billion in applications in 2021, Biden’s first year in office, $222 billion were approved.


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