U.S. Bans Huawei From Purchasing American Chips in Escalation of the Trade War
Chinese smartphone maker Huawei was dealt another blow Friday after the U.S. Commerce Department amended an export rule to prevent it from purchasing semiconductors from U.S. companies.
In a statement, the Commerce Department said by amending the export rule it "cuts off" Huawei's ability to get around U.S. export controls. The Commerce Department contends that Huawei has continued to use software and semiconductors from U.S. companies even after the company and 114 of its overseas affiliates were added to a blacklist late last year.
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Source Fool.com
