Things have got really difficult for Huawei over the last few months, but the situation's actually been building up for many years. Huawei is a big Chinese company. It's probably best known in the West for making mobile phones, but it's also a massive telecommunications equipment firm.
Huawei has become a lot more aggressive about defending its reputation against accusations of spying. It's now launched a lawsuit against the US government where it says it's being treated unfairly and that the US government doesn't have any proof that it might spy on behalf of the Chinese government. They're coming back very robustly in this lawsuit.
The US has taken action against Huawei. It's effectively locked Huawei out of its 5G networks. It's pressuring its allies and other governments to also do the same thing and lock Huawei out of their 5G network. There are some concrete developments that we're waiting for. So one is Huawei's chief financial officer, Meng Wanzhou, is currently in Canada, and the US requested to extradite her to face trial in the US. That could be a big trial.
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Source: MarketWatch - 🏆 3. / 97 Read more »