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US exports blacklist threatens global tech supply chain
- Friday | 17th May, 2019
Shares in Huawei suppliers fell across in Asia on the news of the US blacklist. HONG KONG/BEIJING (Reuters) – The latest US broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world’s top supplier of telecoms network equipment. Out of $70 billion Huawei spent for component procurement in 2018, some $11 billion went to US firms including Qualcomm, Intel Corp and Micron Technology Inc, and they could see that revenue disappearing. A similar US ban on China’s ZTE Corp had almost crippled business for the smaller Huawei rival early last year before the curb was lifted. Trade talksThe pain for Huawei’s supply chain would be redoubled if the trade war put a damper on the Chinese technology industry.
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