US grants housekeeping temporary exemptions on restrictions on Huawei – Action Forex

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The US Commerce Department announced limited exemptions on products of Chinese telecom giant Huawei. The move is seen as for keeping the house in order, so as to prevent internet, computer and cell phone systems from crashing Under the move, Huawei and its 68 non-US affiliates will be granted 90 days temporary general license to have  limited engagement in transactions involving the export, reexport, and transfer of items. With the arrangement, “this license will allow operations to continue for existing Huawei mobile phone users and rural broadband networks”. The Commerce Department said it will evaluate whether to extend the exemptions beyond 90 days. Full statement here.
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