Mnuchin also said that while the US was willing to come to an acceptable deal with China, it would continue to maintain its current restrictions on the Chinese mainland. Thus continue to reduce its massive deficit. Earlier last month, the US’ Trump administration signed an executive order against China. Effectively banning US companies from using certain types of telecommunication equipment. Of all the Chinese companies, the ban has affected Huawei the worst, with nearly every major US manufacturer such as Intel, Qualcomm, ARM, and Google having already cut off supplies and services to the brand. In response to the US executive order, China was reportedly considering coming with a blacklist that would ban its own set of US companies from operating in its country. However, there’s still no word on who is on the blacklist, or when and if it will become a reality. Huawei, in its own capacity, has begun taking matters into its own hands, having recently ordered its employees to cancel any and all technical meetings with US contacts and companies. It also reportedly sent home its American employees that were stationed at its HQ in China.
Despite those actions, the Chinese company has said that it was willing to sign a “no-spy agreement” with the US, but also said that such an agreement happening anytime soon would be unlikely. (Source: Reuters // Image: CNN)
