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Trump says the U.S government will no longer do business with Huawei

By Cookie Monster - on 11 Aug 2019, 9:59am

Trump says the U.S government will no longer do business with Huawei

The U.S government will no longer have any dealings with Huawei according to the latest directive from President Trump. 

Trump's decision came days after China stopped buying American agricultural products in retaliation for the U.S tariffs threat. The Chinese government also allowed its currency to drop against the U.S dollar to the lowest level since 2008.

“We are not going to do business with Huawei. ... And I really made the decision. It’s much simpler not doing any business with Huawei. ... That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump said.

“We are talking to China; we are not ready to make a deal, but we’ll see what happens ... China wants to do something, but I’m not doing anything yet. Twenty-five years of abuse. I’m not ready so fast,” Trump said.

The Commerce Department told CNBC that it is still processing special licenses for U.S companies to resume sales to Huawei, and clarified that Trump's decision only bans the U.S government from doing any business with Huawei. 

The U.S relaxed trade restrictions on Huawei last month after President Trump met Chinese President Xi Jinping at the G20 summit. However, the cease-fire ended last week when President Trump claimed that China broke its promise to buy U.S farm goods in "large quantities". 

Source: CNBC