Seemingly out of the blue, Donald Trump weighed in on the future of U.S. wireless technology Thursday morning. I want 5G, and even 6G, technology in the United States as soon as possible. It is far more powerful, faster, and smarter than the current standard. American companies must step up their efforts, or get left behind. There is no reason that we should be lagging behind on.........
WASHINGTON – The arrest of a prominent Chinese telecommunications executive has driven home why it will be so hard for the administration of U.S. President Donald Trump to resolve its deepening conflict with China. The arrest of Meng Wanzhou, Huawei Technologies Co.'s chief financial officer, has heightened skepticism over the trade truce that Trump and Chinese President Xi Jinping reached last weekend in Buenos Aires. Stock markets tumbled Thursday on fears that the 90-day cease-fire won't last, but regained their equilibrium in Europe and Asia on Friday. On Friday, a bail hearing for Meng, who faces possible extradition to the United States after her arrest in Vancouver, British Columbia, last weekend, was adjourned until Monday. Huawei has been a subject of U.S. national security concerns for years and Meng's case echoes well beyond tariffs or market access.
Legislation barring the sale of national security-sensitive technology to China has been introduced to the United States Senate by Republican Marco Rubio, in another effort to crack down on the supposed theft of US intellectual property. The proposed Fair Trade with China Enforcement Act would also block government or contractors from buying telecommunications equipment and services from Chinese tech giants ZTE and Huawei. In addition, the draft legislation imposes higher taxes on any income from China being made by US multinational companies, as well as levelling duties and caps on shares held by Chinese investors in US companies that produce goods under the "Made in China 2025" initiative, which aims to catch China up with the US and Germany across robotics, aerospace, and clean-energy cars. "How America responds to the growing threats posed by China is the single most important geopolitical issue of our time, and will define the 21st century," Rubio said when introducing the Bill. The introduction of the Bill follows the heads of the CIA, FBI, NSA, and the director of national intelligence to the Senate Intelligence Committee recommending in February that Americans not use products from Huawei and ZTE.
United States President Donald Trump is escalating the nation's trade war with China, preparing tariffs on a further $200 billion worth of Chinese imports as the Office of the US Trade Representative proposes 10 percent tariffs across 6,031 Chinese product lines. The office is accepting public submissions on the proposal, with hearings to be held between August 20 and August 23, after which a final decision will be made post-August 31, a senior administration official said. Trump has warned that he could tax up to $550 billion in Chinese products, exceeding the US' total imports from China during 2017. Republican Senate Finance Chairman Orrin Hatch called the announcement on Tuesday "reckless" and untargeted. "We cannot turn a blind eye to China's mercantilist trade practices, but this action falls short of a strategy that will give the administration negotiating leverage with China while maintaining the long-term health and prosperity of the American economy," Hatch argued.
BEIJING – China on Thursday demanded that Canada release an executive of Chinese tech giant Huawei who was arrested in a case that compounds tensions with the U.S. and threatens to complicate trade talks. Meng Wanzhou, chief financial officer of Huawei Technologies Ltd., faces possible extradition to the United States, according to Canadian authorities. The Globe and Mail newspaper, citing law enforcement sources, said she is suspected of trying to evade U.S. trade curbs on Iran. Huawei, the biggest global supplier of network gear used by phone and internet companies, has been the target of deepening U.S. security concerns. Under President Donald Trump and his predecessor, Barack Obama, Washington has pressured European countries and other allies to limit use of its technology.