HUAWEI issues official statement on new United States sanctions

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A couple of reports illustrate this well. Apart from Samsung, the company is said to be considering buying chips from China's Semiconductor Manufacturing International Corporation (SMIC) as well. "And that should facilitate even more activity", Ross said. The new rule went into effect on Friday but would have a 120-day grace period.

For its part TSMC is one of the world's largest chip fabricators and, coincidentally or not, has recently struck a deal to establish a 5nm foundry in the US.

The resulting disruptions to supply chains will ultimately harm USA interests, it added.

The new regulations are an effort to "narrowly and strategically target Huawei's acquisition of semiconductors that are the direct product of certain USA software and technology", the Department of Commerce said in a statement. Huawei has contested the USA government's claims and said American efforts are likely to backfire, hurting the ability of United States tech firms to do business.

The company is committed to complying with United States rules and had significantly increased R&D and inventory to meet USA pressures, he said. At the same time, we have fulfilled our contractual obligations to customers and suppliers, and have survived and forged ahead against all odds. Huawei and 114 subsidiaries were then blacklisted, which required companies to obtain a license to be able to export American products. The Commerce Department on Friday said the move aims to cut off Huawei's undermining of current USA sanctions.

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The new curbs, which dropped on Friday, would ban Huawei from using US software and hardware in certain strategic semiconductor processes. The rules also apply to third-parties if they know they will eventually be used in Huawei products. Krach has urged USA allies and partners to join Washington in aligning their domestic export control laws to address "the very real security threat" posed by Huawei and China.

Huawei has denied the allegations. Now, the company in the Huawei Analyst Summit 2020 event officially responded to these recent sanctions, stating that it could affect various global industries apart from just Huawei.

In its official response, the firm echoed China's stance, saying the US move will have a "serious impact on a wide number of global industries".

In the long run, the company believes that this action will damage the trust and collaboration within the global semiconductor industry on which several industries depend. The foreign ministry told that it would "firmly defend its companies' legal rights" in response to a question about possible retaliation in response to the U.S.

Restrictions introduced by Washington on Friday that ostensibly aim to allay USA cybersecurity concerns are really created to safeguard American dominance of global tech, a senior Huawei Technologies Co. executive said Monday. Huawei also states that therefore, the action will harm USA interests as well. The rule targets chips designed or custom-made for Huawei. We expect that our business will inevitably be affected.

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