White House closer to executive order to ban use of equipment from China’s Huawei, ZTE: Reuters
The Trump administration is considering an executive order in the new year to declare a "national emergency" that would ban U.S. companies from using telecommunications equipment made by China’s Huawei 002502, -3.63% and ZTE 000063, +0.20% , three sources familiar with the situation told Reuters. The executive order, which has been under consideration for more than eight months and would invoke the International Emergency Economic Powers Act, could be issued as early as January, the report said. While the order is unlikely to name Huawei or ZTE specifically, a source said it is expected that Commerce officials would interpret it as authorization to limit the spread of equipment made by the two companies, Reuters said. The Wall Street Journal first reported in May that the order was under consideration, but it was never issued. Both companies have denied allegations that their products are used to spy.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
Source: Read Full Article