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The Trump administration notified Intel Corp. and other tech companies that it was revoking licenses to do business with Chinese firm Huawei Technologies Co. and rejecting new license applications, Reuters reported on Sunday.
The latest move against Chinese tech companies comes just days before Trump left the White House on Wednesday. The United States says telecommunications equipment maker Huawei is a threat to national security.
The Trump administration banned US companies from doing business with Huawei in 2019, but a handful – including Intel INTC,
– had since received special authorization to do so.
Citing anonymous sources, Reuters reported that eight licenses had been revoked from four companies, and quoted an email from the Semiconductor Industry Association on Friday describing the Commerce Department’s intention “to deny a significant number of license applications to export to Huawei. Reuters said the vast majority of the 150 pending license applications, worth around $ 120 billion in goods and services, were denied.
The Trump administration has taken punitive action against a number of Chinese companies in recent months, including an unsuccessful attempt to ban TikTok and an executive order that forced the New York Stock Exchange to deregister China’s three largest telecommunications companies. .
It is unclear whether the new Biden administration will maintain the restrictions against Chinese companies, with some experts predicting that orders could be suspended while the new administration reviews the cases.
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