MarketWatch: U.S. blocking shipments of semiconductors to Huawei Technologies: report

Commentary, News

Published: May 15, 2020 at 7:01 a.m. ET

 

 

 

The Commerce Department is amending an export rule to “strategically target Huawei’s acquisition of semiconductors that are the direct product of certain U.S. software and technology,” Reuters reported, citing a statement. The report said the move could impact Taiwan Semiconductor Manufacturing TSM, -2.93%, which makes chips for Huawei. Separately, Commerce issued a 90-day extension of a temporary reprieve of its ban on the use of equipment from Chinese telecom Huawei Technologies. The Commerce Department said the move “provides an opportunity for users of Huawei devices and telecommunication providers-particularly those in rural U.S. communities-to continue to temporarily operate such devices and existing networks while hastening the transition to alternative suppliers.” U.S. stock futures ES00, -0.90% turned lower after the report.

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