Home Uncategorized U.S. Commerce head to use tool to limit tech exports to China...

U.S. Commerce head to use tool to limit tech exports to China firms to ‘full effect’ By Reuters

- Advertisement -

© Reuters. FILE PHOTO: Gina Raimondo, Biden’s nominee for secretary of Commerce, speaks in Wilmington, Delaware

WASHINGTON (Reuters) – New U.S. Commerce Secretary Gina Raimondo said she will make full use of a powerful regulatory tool that has been deployed to limit the flow of U.S. technology and products to China’s Huawei and others.

“Chinese telecommunications companies — their behavior is a threat to American economic and national security. We’re going to use (the entity list) to its full effect,” she told MSNBC in an interview released Thursday.

U.S. suppliers to companies on the entity list must apply for special licenses before they ship goods overseas, but the applications are often denied.

Raimondo said firms like Huawei Technologies Co Ltd, ZTE Corp (HK:) should be on the list. “If you look at their behavior, they deserve to be targeted and if it’s necessary then that’s what we’ll do,” she said.

During her confirmation hearing she had declined to commit to keeping Huawei on the entity list.

Senator Ted Cruz, a Republican, criticized Raimondo on Thursday for not committing to keep Huawei on the list. A spokesman for Cruz said Thursday she was “still refusing to make an explicit commitment.”

Huawei did not immediately respond to a request for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

- Advertisement -
- Advertisement -

Stay Connected


Must Read

- Advertisement -

Related News

- Advertisement -


Please enter your comment!
Please enter your name here