Trump announces extension of Huawei ban for another year

Published: May 14, 2020 11:24

Save

[Trump announces an extension of the Huawei ban for one year] US President Donald Trump on Wednesday extended the supply chain ban on Chinese companies such as Huawei and ZTE until May 2021.

U.S. president Donald Trump on Wednesday extended the supply chain ban on Chinese companies such as Huawei and ZTE until May 2021.

The ban, signed in May last year, is based on the International Emergency Economic Power Act, which gives the president the power to regulate business to help deal with a state of emergency that threatens the security of the United States. The order declares a state of emergency and prohibits American companies from using telecommunications equipment made by companies that pose a national security risk.

Us lawmakers said the ban was aimed directly at Chinese companies such as Huawei and ZTE.

On May 16, 2019, the Commerce Department added Huawei to the entity list on national security grounds, but the department has since extended temporary licensing restrictions several times. The most recent was in February 2020, when it was decided to extend the licence until 1 April 2020.

The Commerce Department is expected to extend the license again, which is scheduled to expire on Friday, allowing U. S. companies to continue doing business with Huawei, people familiar with the matter said.

"Click to participate in the second China (Yingtan) Copper Industry Summit and the 15th China International Copper Industry chain Summit."

"these enterprises have signed up! (with part of the list of participants)

To sign up for the summit or apply to join the SMM industry exchange group, please scan the code:

Technology ban Huawei ZTE

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

57 mins ago

Sharp Decline in Futures Boosts Buying Enthusiasm, Trading Heat Rises and Spot Discounts Strengthen [SMM North China Spot Copper]

In North China, #1 copper cathode spot prices against the front-month contract were reported at discounts ranging from 210 yuan/mt to 130 yuan/mt, with an average discount of 170 yuan/mt, up 40 yuan/mt from the previous trading day. The average transaction price was 100,940 yuan/mt, down 2,050 yuan/mt from the previous trading day.

57 mins ago

58 mins ago

Downstream is buying the dip, and Shanghai spot copper discounts may narrow slightly tomorrow.

Looking ahead to tomorrow, copper prices pulled back in the night session yesterday, prompting some downstream enterprises to actively buy the dip. Intraday purchasing demand increased significantly. After low-priced cargoes were quickly absorbed, suppliers began to show a willingness to hold prices firm, and subsequently, the momentum for selling at low prices weakened. Regarding market structure, the inter-month price spread has shifted into a backwardation structure, reducing the willingness to sell at low prices and providing support for spot discounts. On the supply side, the import window briefly opened during the night session, and additional supply from outside China may follow. Overall, with support from the backwardation structure and downstream dip-buying, Shanghai spot copper quotes against the SHFE copper 2607 contract are expected to remain at discounts tomorrow, with the discount possibly narrowing slightly.

58 mins ago

Copper price pullback activates buying to digest low-priced cargoes, and suppliers hold prices firm, supporting a narrower discount [SMM Shanghai Spot Copper]

[SMM Shanghai spot copper] Tomorrow, following a pullback in copper prices during last night’s night session, some downstream enterprises actively bought the dip, driving a notable increase in intraday procurement demand. After low-priced cargo was quickly absorbed, suppliers showed signs of holding prices firm, weakening the momentum for subsequent low-price selling. Market structure, the inter-month spread has shifted to a backwardation structure, reducing the willingness to sell at low prices and supporting spot discounts. Supply side, during the night session, the import window briefly opened, potentially bringing in some overseas supply replenishment later. Overall, with combined support from the backwardation structure and downstream dip-buying, spot SHFE copper prices against the 2607 contract are expected to maintain discounts tomorrow, with the discount magnitude possibly narrowing slightly.

58 mins ago