💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

U.S. Says Europeans Coming Around on Threat Posed by Huawei

Published 05/21/2019, 01:35 PM
Updated 05/21/2019, 02:00 PM
© Bloomberg. An array of 5G masts including Huawei equipment in central London.

(Bloomberg) -- The U.S. has strong indications that European nations are coming around to the severity of the threat posed by China’s Huawei Technologies Co. and the dangers of incorporating its equipment into their coming 5G networks, according to an administration official.

The official said that while European nations probably won’t impose an outright legal ban on Huawei, the U.S. anticipates that many nations will effectively bar the company’s equipment from their next-generation telecom networks. The official asked not to be identified discussing private discussions.

Such moves would represent a victory for the Trump administration, which has warned against the use of Huawei in 5G systems and has opened its own campaign to blacklist the company and limit its access to American suppliers over security concerns. The official declined to name specific countries prepared to change their position.

In April, Bloomberg News reported that the U.K. is set to toughen the rules under which Huawei operates there, while stopping short of an outright ban.

The Trump administration held off on blacklisting Huawei out of concern the move could disrupt trade negotiations with China and took action only after the last round of talks hit an impasse, according to people familiar with the matter.

Officials including Secretary of State Michael Pompeo and his team have repeatedly warned that the U.S. may limit intelligence-sharing with countries that use Huawei equipment for fear that China’s government could use the hardware to gain access to secret information. Huawei has rejected such assertions.

© Bloomberg. An array of 5G masts including Huawei equipment in central London.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.