US Holds Off On Huawei Licenses As China Halts Crop-Buying

After China said it was halting purchases of U.S. farming goods earlier this week, the White House retaliated by postponing a decision about licenses for U.S. companies to restart business with Huawei. “Commerce Secretary Wilbur Ross, whose department has vetted the applications to resume sales, said last week he’s received 50 requests and that a decision on them was pending,” reports Bloomberg. “American businesses require a special license to supply goods to Huawei after the U.S. added the Chinese telecommunications giant to a trade blacklist in May over national-security concerns.” From the report: President Donald Trump said in late June after agreeing to a now-broken trade truce with Chinese President Xi Jinping in Japan that some restrictions on Huawei would be loosened. But that promise was contingent upon China beefing up its purchases from American farmers, which Trump has complained the country has failed to do. In the past week tensions have escalated further as Trump said he would impose a 10% tariff on $300 billion of Chinese imports as of Sept. 1 and his Treasury Department formally labeled China a currency manipulator. Still, Trump said last week there were no plans to reverse the decision he made in Japan to allow more sales by U.S. suppliers of non-sensitive products to Huawei. He said the issue of Huawei is not related to the trade talks.