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Stock impact report

WRAPUP 2-U.S. eases curbs on Huawei; founder says clampdown underestimates Chinese firm [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG)  More Company Research Source: Reuters
PDF U.S. eases curbs on Huawei; founder says clampdown underestimates Chinese firm - Reuters 6 Min Read 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. Commerce Department blocked Huawei Technologies from buying U.S. goods last week, a major escalation in the trade war between the world’s two top economies, saying the firm was involved in activities contrary to national security. The two countries increased import tariffs on each other’s goods over the past two weeks after U.S. President Donald Trump said China had reneged on earlier commitments made during months of negotiations. 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 s [Read more]
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