WASHINGTON (Reuters) – White House financial adviser Larry Kudlow will host a meeting with semiconductor and software program executives on Monday to talk about the U.S. ban on gross sales to China’s Huawei Technologies Co Ltd, two sources briefed on the meeting stated on Friday.
A Huawei brand is pictured at their retailer at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido
Treasury Secretary Steven Mnuchin will even attend the White House occasion, to which chipmakers Intel Corp (INTC.O) and Qualcomm Inc (QCOM.O) have been invited, the folks stated.
A White House official confirmed the meeting would happen, noting that Google (GOOGL.O) and Micron (MU.O) would attend, however stated it had been referred to as to talk about financial issues.
The topic of Huawei was anticipated “to come up but that it is not the reason why they are convening the meeting,” stated the official, who spoke on situation of anonymity.
The way forward for U.S. corporations’ ties to Huawei, the world’s no. 1 maker of telecommunications gear, stays unsure after the Trump administration put the corporate on a blacklist in May, citing nationwide safety issues.
The transfer banned U.S. corporations from promoting most U.S. elements and parts to it with out particular licenses, however President Donald Trump stated final month American corporations may resume gross sales, with a watch on reviving commerce talks with Beijing.
Several weeks after the announcement, particulars about what the brand new coverage in the direction of the corporate is are nonetheless not forthcoming.
Commerce Department Secretary Wilbur Ross has stated licenses could be issued the place there isn’t a menace to nationwide safety. Reuters reported that the United States might approve licenses for corporations to restart new gross sales in a matter of weeks.
One of the folks briefed on Monday’s meeting stated Broadcom Inc (AVGO.O) was additionally invited to the White House occasion. Microsoft Corp (MSFT.O) was additionally anticipated to obtain an invite, the particular person stated.
Intel and Qualcomm declined to remark. Google, Micron, Microsoft and Broadcom didn’t instantly reply to requests for remark.
Reporting by David Shepardson and Alexandra Alper; Writing by Eric Beech; Editing by Richard Chang and Sonya Hepinstall