Reuters also reported that another US$280 billion of licenses for goods and technology for Huawei haven’t been addressed, but are now likelier to face rejection too. These actions against Huawei are the latest in ‘tough on China’ Trump’s final barrage against Chinese companies before he leaves office.
With its consumer unit crippled by US sanctions, Huawei had already begun a pivot to cloud services. However, Chinese business executives largely expect Washington-Beijing relations to improve under the incoming Biden administration, one survey said. But US foreign policy experts predict that the new president will continue to restrict the flow of critical technology to China.
“The difference is process will be more collaborative, with both private sector and allies, and more focused on a narrower set of technologies,” said Adam Segal, director of the Digital and Cyberspace Policy program at the Council on Foreign Relations (CFR), to CNBC. In other words, Chinese tech executives shouldn’t be popping champagne bottles just yet.