Earlier today, 29 June, US President Donald revealed that he would allow U.S. firms to sell high-tech equipment to China's Huawei
The move to scale back restrictions on the Chinese technology giant is part of an effort to restart trade talks with Chinese leader Xi Jinping, The Washington Post reported.
Trump made the announcement during a press conference after talks with President Xi Jinping during the Group of 20 Summit in Osaka, Japan.
According to Forbes, while it's not a lifting of the blanket ban placed on Huawei, the permission to buy products from American suppliers will significantly benefit the Chinese technology giant
In other words, while hardware components from companies such as Intel and Micron can know that they can continue to sell to Huawei, the ban on Huawei selling its smartphones, laptops and communications infrastructure technologies to the US has still not been changed, Forbes reported.
During the press conference, Trump told reporters, "US companies can sell their equipment to Huawei… there's no great, national emergency problem."
However, the issue of Huawei would be saved until the end of the trade talks, with Trump saying, "We'll have to save that to the very end, we'll have to see."
Here's what Trump said about allowing US firms to sell to Huawei
"One of the things I will allow, however, is, a lot of people are surprised we send and we sell to Huawei a tremendous amount of product that goes into the various things that they make. And I said that that’s okay, that we will keep selling that product.
"These are American companies… that make product and that’s very complex, by the way, and highly scientific. And in some cases we’re the ones that do it, we’re the only ones that do it. What we’ve done in Silicon Valley is incredible, actually and nobody has been able to compete with it, and I’ve agreed and pretty easily, I’ve agreed to allow them to continue to sell that product.
"So American companies will continue and they were having a problem, the companies were not exactly happy that they couldn’t sell because they had nothing to do with whatever it was potentially happening with respect to Huawei, so I did do that."