Trade truce good chance for more US firms to do business with Huawei

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Larry Kudlow's comments came after President Donald Trump and China's Xi Jinping agreed to a truce in their trade war. FMTNews Huawei DonaldTrump XiJinping

The US has said it fears that systems built by Huawei could be used by China’s government for espionage via built-in secret security ‘backdoors.’

While Trump had signalled the softer position on Huawei, a sticking point in trade talks, by saying US companies could sell equipment “where there’s no great national security problem,” Kudlow added a bit of detail. “We had a very good meeting. He wants to make a deal. I want to make a deal. Very big deal, probably, I guess, you’d say the largest deal ever made of any kind, not only trade,” the president said, according to a transcript released by the channel.

Kudlow emphasised that Huawei will remain on the so-called US Entity List – foreign companies and individuals that are subject to specific export and technology transfer licensing requirements.“The Commerce Department will grant some temporary additional licenses where there is a general availability” of the products to be sold, he added.

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