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President Trump yesterday signed a defense funding bill that included a sweeping ban on the US government using technology supplied by Chinese telecommunications giants ZTE and Huawei. The bill also includes a narrower ban on using surveillance gear provided by Chinese companies Hytera Communications, Hangzhou Hikvision Digital Technology, or Dahua Technology for national security applications.
The legislation directs federal agencies to stop using the Chinese-made hardware within two years. If that proves impractical, an agency can apply for a waiver to permit a longer phase-out period.
Obviously, being banned from selling to the US government is a significant blow to these companies. But overall the bill actually represents something of a reprieve for ZTE. Back in June, the US Senate passed a version of the bill that would have re-imposed an export ban that would have been a de facto death sentence for ZTE because ZTE is heavily dependent on components like Qualcomm chips and Google's Android operating system.
Previously: Verizon Cancels Plans to Sell Huawei Phone Due to U.S. Government Pressure
U.S. Intelligence Agency Heads Warn Against Using Huawei and ZTE Products
The U.S. Intelligence Community's Demonization of Huawei Remains Highly Hypocritical
Huawei CEO Still Committed to the U.S. Market
Rural Wireless Association Opposes U.S. Government Ban on Huawei and ZTE Equipment
ZTE Suspends Operations Due to U.S. Ban (UPDATED)
(Score: 0) by Anonymous Coward on Thursday August 16 2018, @09:25PM (1 child)
A tariff on foreign products to enable local production economical makes as much sense as breaking windows to create jobs for glassblowers. The fact growth is rising and unemployment is lowering isn't a positive thing when your exports aren't. It just means you're doing more work for less profits. And obviously it leads to reduced industrial production and inflation soon enough since demand and cash flow dies:
https://tradingeconomics.com/united-states/industrial-production-mom [tradingeconomics.com]
https://tradingeconomics.com/united-states/inflation-cpi [tradingeconomics.com]
This is where the spiral to the bottom really kicks in. Trump will try borrowing more money to infuse the system with cash or worse, print some. This pattern is so obvious to anyone with a lick of education it's ridiculous people actually think Obama wasn't right to oppose this and try to focus on higher efficiency innovative technologies instead. And lets not forget Germany did just what Obama tried and ended up fairing quite well for themselves...
(Score: 0) by Anonymous Coward on Friday August 17 2018, @02:05AM
Um, you didn't hear about "quantitative easing" under Obama? That was what you claim Trump will do. It's already done, by Obama. He was printing money to infuse the system with cash.
It's cute to claim to "try to focus on higher efficiency innovative technologies". Everybody wants that. You can't force innovation. Innovation tends to happen near the factories though, which means China if we let them have the factories.