US lawmakers are readying to block Chinese smartphone maker Huawei from using local banks for certain transactions, Reuters reports. The bill reportedly seeks to ban US banks from processing “significant” transactions for overseas firms both working on 5G tech and engaging in industrial espionage. The US government has previously accused Huawei of bank fraud and stealing trade secrets. [READ: US accuses Huawei of stealing trade secrets and racketeering] “It is time for the Trump administration to take swift and forceful action to block Huawei from accessing the U.S. financial system,” said senate democrat Charles Schumer, who Reuters notes has sponsored the bill…
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Thursday, 12 March 2020
