Sunday, August 18, 2019
Martin Hennecke

Trump poised to sign Huawei ban
<p>The United States President Donald Trump is expected to sign an executive order this week 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 Huawei, three US officials familiar with the plan told Reuters.</p><p>The order, which will not name specific countries or companies, has been under consideration for more than a year but has repeatedly been delayed, the sources said, asking not to be named because the preparations remain confidential. It could be delayed again, they said.</p><p>The executive order would invoke 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. The order will direct the Commerce Department, working with other government agencies, to draw up a plan for enforcement, the sources said.</p><p>Washington believes equipment made by Huawei Technologies could be used by the Chinese state to spy. Huawei, which has repeatedly denied the allegations, did not immediately comment.</p><p>Meanwhile, at least 10 bulk carrier cargoes are in transit from the US to China, while at least one vessel managed to offload its U.S. cargo on the weekend as tensions between Washington and Beijing flared. Bulk carrier Fiji arrived in Dalian Sunday, waiting a week before congestion cleared to enter port. The cargo originated from Export Grain Terminal Longview in the Pacific Northwest with 67,113 metric tons of soybeans. China has bought about 7.4 million tons of US soybeans that haven&#39;t been shipped yet, USDA data show.</p><p>Another 468,000 tons of American corn, 103,000 tons of pork and 704,000 running bales of cotton also have been sold but not yet shipped to China, according to the USDA.</p><p>&quot;The shipments of the sales on the books have been slow-walked recently,&quot; said St. Louis-based independent analyst Ken Morrison. &quot;The risk of possible cancellations just got higher.&quot;</p><p>There is similar anxiety for US cotton orders. &quot;What we&#39;ve sold to them, people are concerned they are not going to take that,&quot; said Jody Campiche, vice president of economics and policy analysis for the National Cotton Council of America.</p>

Previous news : Hysan expects over 10pc sales drop


Register  Forget Password
Advanced Search
© 2019 The Standard, The Standard Newspapers Publishing Ltd.
Home | Business | Metro | Focus | Opinion | Markets | World | Sports | Entertainment | Monday Money | Property | Macau | Weekend