The Trump administration has sued Intel Corp. and other tech companies announced it was revoking licenses to do business with China’s Huawei Technologies Co. and rejecting new license applications, Reuters reported Sunday.
The latest action against Chinese technology companies comes just days before Trump’s departure from the White House on Wednesday. According to the US, the manufacturer of telecommunications equipment is a threat to national security.
The Trump administration restricted U.S. companies from doing business with Huawei in 2019, but a handful – including Intel INTC,
has since been granted special approval to do so.
Referring to unnamed sources, Reuters reported that eight licenses from four companies had been revoked, citing a Friday email from the Semiconductor Industry Association describing the Department of Commerce for refusing a significant number of license applications for exports to Huawei. ‘Reuters said the vast majority of about 150 pending license applications, valued at about $ 120 billion in goods and services, were denied.
The Trump administration has imposed sanctions on a number of Chinese companies in recent months, including a failed attempt to ban TikTok and an executive order forcing the New York Stock Exchange to delist China’s three largest telecommunications companies.
It is unclear whether the incoming Biden administration will continue the restrictions against Chinese companies. Some experts predict that the orders could be interrupted while the new government reviews the issues.