SHANGHAI/NEW YORK (Reuters) - The United States has temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers, a move the founder of the world's largest telecoms equipment maker said meant little because it was already prepared for U.S. action. The U.S.
1 / 3The logo of Huawei is pictured at a mobile phone shop in SingaporeThe logo of Huawei is pictured at a mobile phone shop in Singapore, May 21, 2019. REUTERS/Edgar SuBy Brenda Goh and Karen Freifeld
On Monday, the Commerce Department granted Huawei a license to buy U.S. goods until Aug. 19 to maintain existing telecoms networks and provide software updates to Huawei smartphones, a move intended to give telecom operators that rely on Huawei time to make other arrangements. The temporary license suggests changes to Huawei's supply chain may have immediate, far-reaching and unintended consequences for its customers.China's yuan firmed versus the dollar on Tuesday as news of the reprieve eased some worries that trade tensions would be further inflamed and inflict deeper losses on the currency.
"Given the Huawei decision, I feel they have no choice but to retaliate, for face sake," Cliff Tan, head of East Asian research at MUFG Bank in Hong Kong, told the Reuters Global Markets Forum on Tuesday.
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