US treasury secretary says Huawei sanction will ease if trade deal advances

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The US has accused Huawei of espionage and stealing intellectual property

US treasury secretary Steven Mnuchin (pictured) said yesterday (June 9) that president Donald Trump might relax restrictions on Huawei if progress is made in the trade war with China.

This is according to Reuters, reporting Mnuchin saying: “I think what the president is saying is, if we move forward on trade, that perhaps he’ll be willing to do certain things on Huawei if he gets comfort from China on that and certain guarantees. But these are national security issues.”

Trump issued an executive order in May forbidding US companies to do business with foreign firms that are deemed a threat to national security. This has led many technology giants ceasing businesses with the Chinese vendor, most notably Google and chip manufacturer arm.

Many experts predict ramifications for the mobile market if the ban on Huawei is permanent. 

The US government has accused Huawei of espionage and stealing intellectual property, which Huawei has denied.

But it is willing to cut a deal with China. “If China wants to move forward with the deal, we’re prepared to move forward on the terms we’ve done. If China doesn’t want to move forward, then President Trump is perfectly happy to move forward with tariffs to rebalance the relationship,” Mnuchin said.

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