The Biden administration has stopped approving licenses for U.S. companies to export most items to Huawei, according to three people familiar with the matter, Reuters reports. Huawei has faced U.S. export restrictions around items for 5G and other technologies for several years, but officials in the U.S. Department of Commerce have granted licenses for some American firms to sell certain goods and technologies to the company. For example, Qualcomm Inc. (NASDAQ: QCOM.O) received permission in 2020 to sell 4G smartphone chips to Huawei.
A Commerce Department spokesperson said officials "continually assess our policies and regulations" but don’t comment on talks with specific companies. Huawei and Qualcomm declined to comment. Bloomberg and the Financial Times reported the move earlier. Continue Reading
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