Reported 12 months ago
The Biden administration has revoked eight licenses that allowed companies to ship goods to Huawei, according to a document seen by Reuters. The Commerce Department confirmed revoking the licenses for Huawei in response to an inquiry by Republican Congressman Michael McCaul. The move is part of ongoing efforts to pressure Huawei as it rebounds, despite concerns over national security issues and export restrictions. The document also reveals that from 2018 to 2023, $335 billion worth of licenses were approved out of $880 billion in applications to sell to Chinese parties on the entity list, with significant approvals in Biden's first year in office.
Source: YAHOO