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Huawei Gets Conditional Green Light in Germany as Government Approves Security Bill

Summary:
New network-security legislation is latest setback for U.S. effort to rein in Chinese tech giantBERLIN—The German government Wednesday moved closer to allowing the use of Huawei’s technology in 5G mobile networks, giving the Chinese company a small victory on a European continent increasingly aligned with the Trump administration’s anti-Huawei views.A bill approved by Chancellor Angela Merkel’s cabinet that would allow Huawei’s continued presence in Germany still requires parliamentary approval. But it already marks a setback for the outgoing U.S. administration, which has lobbied European allies to reject Huawei’s technology.Huawei Gets Conditional Green Light in Germany as Government Approves Security Bill

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 New network-security legislation is latest setback for U.S. effort to rein in Chinese tech giant


BERLIN—The German government Wednesday moved closer to allowing the use of Huawei’s technology in 5G mobile networks, giving the Chinese company a small victory on a European continent increasingly aligned with the Trump administration’s anti-Huawei views.

A bill approved by Chancellor Angela Merkel’s cabinet that would allow Huawei’s continued presence in Germany still requires parliamentary approval. But it already marks a setback for the outgoing U.S. administration, which has lobbied European allies to reject Huawei’s technology.



Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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