US gives China’s Huawei another 45 days to buy from American suppliers – Reuters
|The US Commerce Department extended the temporary ban for another 45 days for China’s Huawei, said Reuters on early Friday.
Key quotes
After adding Huawei to an economic blacklist in May citing national security concerns, the U.S. Commerce Department has allowed it to purchase some American-made goods in a series of extensions that it says are aimed at minimizing disruptions for customers, many of which operate networks in rural America.
The decision comes as the administration has been debating further tightening restrictions on sales of U.S. goods to Huawei.
FX implications
This may help recede the trade tension between the US and China. However, the Trump administration is still having a negative bias towards the Chinese tech giant and could end-up spoiling the phase-two talks. The global markets seem to have paid a little heed to the news as FX risk barometers, namely the AUD/USD and USD/JPY, seesaw around 0.6720 and 109.80 by the press time.
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