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The US Department of Commerce has placed Chinese tech manufacturer Huawei, combined with 70 Partners, onto a trade blacklist. The transfer will need to advertising products to firms on the record prior US vendors to get licenses from the US authorities\.

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The Commerce Department said Wednesday it’s reasonable basis to believe that”Huawei is engaged in activities which are contrary to US national security” US intelligence agencies have accused the business of placing”backdoor” access in its apparatus in the behest of the Chinese authorities, a quality that would permit them to spy on users of those devices. Beijing and Huawei have denied this a directive exists.

Huawei is among China’s biggest tech businesses and the second-largest cellphone maker worldwide — ahead of the United States’ Apple, but supporting the Korean firm Samsung.

​Commerce Secretary Wilbur Ross explained in a statement the transfer will”prevent American technology from being used by foreign owned entities in a way that possibly endanger US national security or foreign policy interests.”

“President Trump is acting once more to protect US national security. This Executive Order addresses the danger posed by foreign adversaries to the country’s communications and information technology and services supply chain,” Ross said earlier in the afternoon. “Under President Trump’s direction, Americans are going to have the ability to trust our infrastructure and data are protected.”

Financial Markets Wall Street Download Comp Tag as... Cancel Apply Back to search results1of50,610 results FINANCIAL MARKETS WALL STREET Overview Download now   Market maker Thomas Brown follows stock prices at the New York Stock Exchange, Monday, May 13, 2019. U.S. stocks moved sharply lower Monday on Wall Street and extended the market's slide into a second week as investors seek shelter from an escalating trade war between the U.S.


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Specifically, the firms had been added to the Bureau of Industry and Security’s (BIS) Entity List, a dossier of overseas companies and individuals with different licensing regulations enforced to US companies that wish to sell them merchandise.

​Earlier Wednesday, US President Donald Trump signed an executive order directing the Commerce Department and other relevant US agencies to draw up a plan for barring US firms from utilizing telecommunications equipment created by foreign producers if they are deemed a”national security risk.”

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