US Government banned Huawei investment and 58 other Chinese companies

Huawei must once again face a ban in the United States. The new executive order banning investment in 59 China companies, including Huawei, is being enforced by President Joe Biden effective August. The new ruling restricts US investment in Chinese enterprises suspected of having links with the Communist Party of China.

The list also includes SMIC Chipmaker, China Mobile, Hikvision, a video surveillance company and a wide variety of Chinese defence industries. A top US official has indicated that additional Chinese companies will face a ban in the next few months.

I believe that the use of Chinese surveillance technology outside the PRC and the development or use of Chinese surveillance technology in order to promote repression and serious human rights abuse constitute unusual and extraordinary threats to national security, foreign policy and economic theory that arise in whole or substantially outside the United States Chairman Joe Biden

The new penalties in place reinforce President Biden's position against China's intelligence and safety research companies that peaked in the four-year term of former President Donald Trump. The US investment corporations and individuals were also given a one-year opportunity to distribute any monies to newly banned companies.

After the ban put on the previous US President, Huawei is already struggling hard. The brand, Honor, has sold out only to try and survive on the market. He has now developed his own Harmony operating system.