U.S. companies can work with Huawei on 5G, other standards - Commerce Dept

- The United States on Monday confirmed a Reuters report that it will amend its prohibitions on U.S. companies doing business with China's Huawei [HWT.UL] to allow them to work together on setting standards for next-generation 5G networks.

In the telecommunications industry, 5G, or fifth-generation wireless networks are expected to power everything from high-speed video transmissions to self-driving cars.Last year, the United States placed Huawei on the Commerce Department's so-called entity list, which restricted sales of U.S. goods and technology to the company, citing national security.

The new rule came in response to concerns from U.S. companies and lawmakers, a person briefed on the matter said.

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