US tech giants to meet in The White House to resume sales with Huawei

This coming Monday, US tech giants will gather in White House to discuss the resumption of sales to blacklisted Chinese telecoms giant Huawei Technologies Co.

Huawei's ecosystem in mid 2019

The news came a few days after Reuters' report that US companies may get approval to sell to the Chinese tech titan in two-four weeks.

To recall, US President Trump softened its stance against Huawei after meeting Chinese President Xi Jingping in Japan.

US tech companies to discuss resumption of sales to blacklisted Chinese telecoms giant Huawei

President Donald Trump's economic adviser Larry Kudlow and Treasury Secretary Steven Mnuchin arranged the meeting with semiconductor and software companies "to discuss economic matters", according to the person familiar with the matter. 

Among those invited in the discussion are Intel Corp. and Qualcomm Inc. Huawei is one of the world’s biggest purchasers of semiconductors. Continuing access to Chinese customers is crucial to the fortunes of chipmakers such as those invited over the discussion.

Huawei P30 Pro

Trump said on Friday that the call with Chinese officials a day earlier was "very good" but that they’ll "see what happens". White House trade adviser Peter Navarro said earlier this month that Trump is allowing the sale to Huawei of "low grade' chips that aren’t a security risk. The administration will ensure the Chinese telecom company won’t end up dominating 5G infrastructure in the US, Navarro told CNN. 

Mnuchin and US Trade Representative Robert Lighthizer spoke by phone with their Chinese counterparts about trade on Thursday. Mnuchin pointed out that if the talks progress over the phone, he and Lighthizer may travel to Beijing for in-person meetings.

What do you think guys?

Source: Bloomberg