Move gives government power to bar US companies from business with foreign suppliers, including Chinese firm Huawei
Donald Trump on Wednesday signed an executive order declaring a national emergency and barring US companies from using telecommunications equipment made by firms posing a national security risk, paving the way for a ban on doing business with China’s Huawei Technologies Co, Reuters writes.
The news agency had reported yesterday that Trump was expected to take action on the long-awaited proposal this week.
The executive order invokes the International Emergency Economic Powers Act, which gives the president the authority to regulate commerce in response to a national emergency that threatens the United States.
Amid a deepening trade war with China, President Trump on Wednesday declared a “national emergency” to protect U.S. communications networks in a move that gives the federal government broad powers to bar American companies from doing business with certain foreign suppliers — including the Chinese firm Huawei, the Washington Post writes.
More to follow….