President Donald Trump on Friday said the US isn't going to do business with Chinese tech giant Huawei.
The comment comes after escalating trade tensions with China and may signal the government will hold off on granting licenses to US tech companies to do business with Huawei.
"We're not going to do business with Huawei," Trump told reporters on Friday.
"That doesn't mean we won't agree to something if and when we make a trade deal, but we're not going to be doing business with Huawei."
The White House didn't immediately respond to a request for comment.
The Trump administration is delaying a decision on handing out licenses for US companies to resume shipping to China’s Huawei as the trade conflict continues, Bloomberg reported on Friday.
Why it matters: The move indicates there is no let-up from the US in its trade blacklisting of Huawei as it approaches the August 19 deadline of a 90-day-reprieve.
The decision came after Beijing said it was halting purchases of US farming goods, according to people familiar with the matter cited by Bloomberg.
Companies seeking to export US-made components and technology to Huawei must apply for a special license after the Department of Commerce put the company on a trade blacklist on May 16.
Details: Commerce Secretary Wilbur Ross said last week he had received 50 requests and that a decision on them was pending, according to Bloomberg.
US chipmakers such as Intel, Qualcomm, and Broadcom sent their chief executives to meet with President Trump in July in a bid to accelerate the process of obtaining licenses to sell to Huawei.
The perfect storm is coming — Market analysis of the global economic instability.
As said, potentially, we could assist to a strong parabolic uptrend if the price crosses the new resistance of $11,800 and only, in that case, we can confirm that bulls will take the reins again.
It now takes 7.0507 yuan to buy a dollar.
The fallout was because China attacked the United States on the foreign exchange markets against Donald Trump’s threat of a new 10% rate on $ 300 billion of Chinese goods starting from September 1st.
At writing time, President Donald Trump has just tweeted as follow.
During the conference he often stressed on the concept that, in his opinion, monetary policy has done a lot to support the euro area and it will continue to do but if the Eurozone continues with this deteriorating outlook, fiscal policy will become very important in the business cycle that is very low since euro area real GDP increased by 0.4%, quarter on quarter, in the first quarter of 2019.
Treading Business: Google execs square measure involved that Banning Huawei may lead to Redoubled Security Risks
U.S. Technology corporations have told the executive department that the Trump administration’s Ban on commercialism to the Chinese tech large Huawei might considerably hurt their bottom lines and would possibly harm their ability to develop new technological innovations, together with those required by the U.S. military.
The companies are creating the claims in applications for licenses that might allow them to do Treading Business With Huawei when the prohibition goes into impact in August.
Under Department of Commerce rules, U.S. corporations that need to still sell to Huawei should apply for licenses, and also the chip manufacturers and software package suppliers WHO rely on Huawei as a client are already setting out to argue why they ought to get one.
According to folks briefed on the matter WHO asked to not be named as an issue of, they feared going public would possibly create it more durable to get licenses, the businesses, particularly chip manufacturers, have enclosed careful money projections and alternative knowledge in their applications showing the potential for important hurt.
Companies have argued that the ban already has injured the outlook for U.S. chip manufacturers by prompting Chinese corporations to scale back their reliance on u. s. and develop different suppliers outside the U.S.
Treading Business: Google execs square measure involved that Banning Huawei may lead to Redoubled Security Risks
U.S. Technology corporations have told the executive department that the Trump administration’s Ban on commercialism to the Chinese tech large Huawei might considerably hurt their bottom lines and would possibly harm their ability to develop new technological innovations, together with those required by the U.S. military.
The companies are creating the claims in applications for licenses that might allow them to do Treading Business With Huawei when the prohibition goes into impact in August.
Under Department of Commerce rules, U.S. corporations that need to still sell to Huawei should apply for licenses, and also the chip manufacturers and software package suppliers WHO rely on Huawei as a client are already setting out to argue why they ought to get one.
According to folks briefed on the matter WHO asked to not be named as an issue of, they feared going public would possibly create it more durable to get licenses, the businesses, particularly chip manufacturers, have enclosed careful money projections and alternative knowledge in their applications showing the potential for important hurt.
Companies have argued that the ban already has injured the outlook for U.S. chip manufacturers by prompting Chinese corporations to scale back their reliance on u. s. and develop different suppliers outside the U.S.
official report, India is the 2nd largest ready made apparels exporter to United States.
Out of those apparel sector goes up boom and was exceptional.
According to the government of US trade data, there are top five apparel exporters to the USA, Out of those Vietnam exports 7.42% growth, India has rising 2.19% during the period on 2018-19 basis, as told per data from Office of Textiles and Apparel, US Department of Commerce.
China is looking to move towards technology and involved with lot efforts to be capital-intensive industries than labor-intensive ones.
Stock Market Today Updates For June 10 - 2019
Asian Stock Market News and the U.S. and European equity futures climbed weekday once President Donald Trump pensile plans for U.S. tariffs on Mexico.
Treasuries fell along with side gold and also the yen as demand for havens sank.
The Mexican monetary unit jumped the foremost in virtually a year once the U.S.| Mexico agreement that was undraped late Friday.
For his or her half, G-20 finance chiefs over the weekend warned regarding escalating risks to growth from trade and government tensions.
“The focus can currently shift back to the G-20 and China,’’ strategists at TD Securities together with Richard Kelly wrote during a note.
