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Huawei dealt critical blow with US restriction on chipmakers
White House aims to target Huawei, protect sensitive tech
FOX Business’ Hillary Vaughn discusses the White House’s efforts to ban semiconductor sales to Huawei.
HONG KONG — The latest U.S. sanctions on Huawei threaten to devastate China's first global tech competitor, escalating a feud with Beijing that could disrupt technology industries worldwide.
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Huawei Technologies Ltd. is one of the biggest makers of smartphones and network equipment, but that $123 billion-a-year business is in jeopardy after Washington announced further restrictions on use of American technology by foreign companies that make its processor chips.
US CLOSES LOOPHOLE EXPLOITED BY HUAWEI
Huawei spent the past year scrambling to preserve its business after an earlier round of U.S. restrictions imposed last May cut off access to American components and software.
"Our business will inevitably be impacted," Huawei's chairman, Guo Ping, said at a conference Monday with industry analysts.