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China opposes use of unilateral sanctions against its entities: Ministry

Trump takes first step toward U.S. ban on Huawei products

President Donald Trump's new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the USA market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.

While the order does not mention Huawei specifically, Trump is expected to follow up this executive order by declaring an outright ban on Huawei products in the U.S. FCC chairman Ajit Pai, appointed to his position by Trump, said the president's move is a "significant step toward securing America's networks". U.S. Secretary of Commerce, Wilbur Ross, stated that the ban is meant to "prevent American technology from being used by foreign-owned entities in ways that potentially undermine United States national security or foreign policy interests". Huawei, and 70 affiliate companies, have been placed on its "Entity List" which could ban the company from purchasing U.S. components.

The restrictions "will not make the USA more secure or stronger", the company said. He is expected to sign an executive order banning usa firms from doing business with Chinese telecommunications company Huawei.

According to Reuters, this means Huawei is barred from obtaining parts and components from USA companies without US government approval.

"We are ready and willing to engage with the USA government and come up with effective measures to ensure product security", Huawei said in a statement.

Huawei has told journalists that today's executive order "will only serve to limit the United States to inferior yet more expensive alternatives" on 5G technology.

"We are ready and willing to (talk to) the USA government and come up with effective measures to ensure product security", the company said in a statement. Such measures are "disgraceful and unjust", a ministry spokesperson said late Wednesday after Trump's order was announced. He insisted the growing campaign against Huawei remained a separate matter from broader trade negotiations between the United States and China, which have stalled in recent days. President Trump banned the USA government from using any Huawei or ZTE equipment back in August. "But we are against other countries' unilateral sanctions based on domestic law and practices that abuse export control measures", he said, adding, "We urge the United States to stop such practices and create favourable conditions for business cooperation". While the order does not name any specific vendors that would be banned, the move is widely believed to target Huawei.

The issue has taken on new urgency as USA wireless carriers look for partners as they roll out 5G networks.

Out of $70bn that Huawei spent on component procurement in 2018, some $11bn went to USA firms including Qualcomm, Intel and Micron Technology Inc.

"It's going to have...effects through the entire global telecommunications network because Huawei affiliates all over the (world) depend on US content", Wolf said. "China will take all the necessary measures to resolutely safeguard the legitimate rights of Chinese firms", he added. -China trade war. The company has always been seen as an espionage threat to the USA due to its alleged connection with the Chinese government and the oversized influence it has in the deployment of 5G networks around the world.