Trump declares ‘NATIONAL EMERGENCY’ and blacklists Huawei - global stocks ON EDGE

Logo of Huawei is seen at Viva Tech fair in Paris

Logo of Huawei is seen at Viva Tech fair in Paris

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The order did not specifically identify any country or company, but US officials have previously labelled Huawei a "threat" and lobbied allies not to use Huawei network equipment in next-generation 5G networks.

On Wednesday, President Donald Trump declared a "national emergency" empowering him to blacklist companies seen as "an unacceptable risk to the national security of the United States" - a move clearly aimed at Huawei.

The listing requires U.S. firms to get a license from BIS for the sale or transfer of American technology to a company or person on the list.

"The bigger concern would be [that] USA allies that used to buy Huawei's components may not continue businesses with Huawei, because of fear of possibly upsetting the United States", said Doh Hyun-woo, an analyst at NH Investment & Securities in Seoul. Similar comments were repeated in a separate Ministry of Commerce press conference later the same day.

Details of her unwillingness to follow suit came after Mr Trump effectively blocked Huawei products from the US.

The Trump administration's decision to sanction and potentially cripple Chinese telecoms giant Huawei Technologies Co Ltd garnered a sharp rebuke on Thursday from Beijing, which warned that the move could damage trade talks.

Washington lawyer Douglas Jacobson, a trade expert, said there would be collateral impact on the US companies that sell to Huawei.

"U.S. technology will not be used in a way that's adverse", he told FOX Business' Maria Bartiromo on Thursday.

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But they have not shown any evidence that any Huawei equipment in the US or elsewhere has been compromised. "In addition, unreasonable restrictions will infringe upon Huawei's rights and raise other serious legal issues".

The report, co-authored by Tory MP Bob Seely, said Huawei claimed to be a private firm, but in China it acts like and is treated as a state-owned enterprise, and was subject to China's National Intelligence Law, which means it could be required to assist China's intelligence agencies in their operations and research and development. Plus, as my colleague Ankit Panda noted, the Trump administration could keep Huawei on the Entity List even while rendering the designation toothless by simply granting whatever licenses are requested.

While Canada says China has made no specific link between the detentions of the two men and Meng's arrest, experts and former diplomats say they have no doubt it is using their cases to pressure Canada.

Huawei hit back by promising to "fight to the end" of the ongoing trade war.

Beijing accused President Trump of engaging in industrial sabotage by using state security as "as a pretext for suppressing foreign business". The US crackdown, announced on Wednesday, was the latest shot fired in an escalating US-China trade war.

As negotiations towards resolving the U.S.

China retaliated with higher tariffs on a revised list of $60 billion worth of USA products. The global community bears witness to all this. The United States will certainly consider issuing new regulations that aim to limit the amount of sensitive USA technology that makes its way to China and helps Chinese companies - indeed, it's still rolling out new export control rules on emerging technologies - but Washington can not unravel the dense network of the global tech sector on its own.

Trade talks have now stalled out, with both Lu and Gao pointedly noting that there are no plans for US negotiators to come to Beijing for the next round of negotiations.

Apparently this spending spree includes 35 higher education institutions around the United Kingdom, which will probably come as a surprise to Oxford University, which stopped accepting the Chinese company's cash in January.

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