{"id":317688,"date":"2019-05-19T07:51:44","date_gmt":"2019-05-19T05:51:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=317688"},"modified":"2019-05-19T07:51:44","modified_gmt":"2019-05-19T05:51:44","slug":"huawei-ceo-sees-slight-impact-from-us-sanctions","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/317688\/huawei-ceo-sees-slight-impact-from-us-sanctions\/","title":{"rendered":"Huawei CEO sees slight impact from US sanctions"},"content":{"rendered":"<p>Huawei Technologies Co. chief executive officer and founder Ren Zhengfei said he expects US restrictions won\u2019t hurt the Chinese company\u2019s growth much, <a href=\"https:\/\/asia.nikkei.com\/Economy\/Trade-war\/Huawei-does-not-need-US-chips-CEO-on-Trump-export-ban\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Nikkei reported<\/strong><\/a><strong>.<\/strong><\/p>\n<p>\u201cHuawei\u2019s growth may slow, but only slightly,\u201d Ren told Japanese reporters at the telecommunications equipment maker\u2019s headquarters in Shenzhen, China, according to Nikkei.<\/p>\n<p>It was his first media statement since President Donald Trump and the US Commerce Department imposed restrictions on May 15.<\/p>\n<p>The closely held company\u2019s revenue growth may fall short of 20%, Ren said.<\/p>\n<p>Trump signed an order that\u2019s expected to restrict Huawei and Chinese competitor ZTE Corp. from selling equipment in the US, and the Commerce Department put Huawei on a list that could block it from doing business with US companies.<\/p>\n<p>Commerce Secretary Wilbur Ross said Huawei and its affiliates pose national security risks to the US, and that the restrictions are a separate issue from the US-China trade negotiations.<\/p>\n<p>\u201cWe have not done anything that violates the law,\u201d Ren said, criticizing the US restrictions.<\/p>\n<p>\u201cWe will not change our management at the request of the US or accept monitoring, as ZTE has done,\u201d he said, according to Nikkei.<\/p>\n<p>The US last year lifted a moratorium on ZTE\u2019s purchases of critical American technology after the company agreed to make board and management changes, accept external monitoring of its activities and pay more than $1 billion in fines.<\/p>\n<p>Huawei will be \u201cfine\u201d even if it can\u2019t buy chips from US suppliers, as \u201cwe have already been preparing for this,\u201d Ren said, according to Nikkei. He ruled out the possibility of producing 5G equipment in the US.<\/p>\n<p>\u201cEven if the US asks us to manufacture over there, we will not go,\u201d he said.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/enterprise\/317412\/huawei-working-to-mitigate-impact-of-us-sanctions\/\" target=\"_blank\" rel=\"noopener noreferrer\">Huawei working to mitigate impact of US sanctions<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Huawei Technologies Co. chief executive officer and founder Ren Zhengfei said he expects US restrictions won\u2019t hurt the Chinese company\u2019s growth much, Nikkei reported.<\/p>\n","protected":false},"author":59,"featured_media":298118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,1635],"class_list":["post-317688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-huawei"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/317688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=317688"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/317688\/revisions"}],"predecessor-version":[{"id":317690,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/317688\/revisions\/317690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/298118"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=317688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=317688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=317688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}