The Presidential soap opera has taken on a new twist after President Biden released the imprisoned by Trump CFO of the 5G company Huawei and allowed them to do business in the USA, Biden has banned Huawei from new approvals.
According to Reuters, “The Biden administration has banned approvals of new telecommunications equipment from China’s Huawei Technologies (HWT.UL) and ZTE (000063.SZ) because they pose ‘an unacceptable risk’ to U.S. national security.” November 2022.
Huawei was the company President Trump had banned from doing any business in the United States. The CFO of Huawei, the daughter of Huawei’s founder, was arrested and held in Canada in 2020 for criminal fraud charges involving Iran and rumors of espionage.
In 2021 under Joe Biden, Huawei Top executive Meng Wanzhou, who was arrested and held in Canada after facing an indictment from the Eastern District of New York in 2020, was allowed to return to China by the Biden Administration.
On Aug 25 2021 Reuters reported ” U.S. officials have approved license applications worth hundreds of millions of dollars for China’s blacklisted telecom company Huawei to buy chips for its growing auto component business,.. “
The Washington Times added “The FCC’s order applies to future authorizations of equipment, though the agency leaves open the possibility it could revoke previous authorizations.”
National Security issues are the reason for banning new authorizations for Huawei but previous authorizations are perfectly fine. In essence, we don’t believe you did anything wrong yesterday but you will tomorrow?
Rooster Crows 