The Trump administration has notified Intel Corp. and other technology companies that are revoking licenses to do business with Huawei Technologies Co. of China and rejecting new license applications, Reuters reported on Sunday.
The latest move against Chinese tech companies comes just days before Trump’s departure from the White House on Wednesday. The US claims that telecommunications equipment maker Huawei is a threat to national security.
The Trump administration restricted U.S. companies from doing business with Huawei in 2019, but a handful – including Intel INTC,
– has since received special approval to do so.
Citing unidentified sources, Reuters reported that eight licenses were revoked from four companies and quoted a Friday email from the Semiconductor Industry Association describing the Commerce Department’s intention to “deny a significant number of license applications. export to Huawei “. Reuters said the vast majority of the nearly 150 pending license applications, worth about $ 120 billion in goods and services, were denied.
The Trump administration has taken punitive measures against several Chinese companies in recent months, including a failed attempt to ban TikTok and an executive order that forced the New York Stock Exchange to withdraw the three largest telecommunications companies from China.
It is unclear whether the new Biden government will continue the restrictions against Chinese companies, with some experts predicting that orders can be stopped while the new government examines cases.