Huawei to lose $30billion in the next two years due to US ban

Intro

The leading  company in Phone production in China, Huawei will lose about $30billion in the next two years due to the ban by the United States of America on its products and services.

Donald Trump had earlier imposed a ban on all Huawei cellphones and component sales and also warned US based companies and its allies to avoid doing business with Huawei as the Chinese company spies on other governments using its equipments on the request of the Chinese government.

The partnership between the U.S. and the Chinese tech giant has since gone sour since Huawei’s chief financial officer Meng Wanzhou, Ren’s daughter, was arrested in Vancouver, Canada, in December at the request of U.S. authorities.

Read Also:  China to impose New Tarrifs on US Imports

Meng was accused of trying to evade U.S. sanctions on Iran by trying to sell equipment to the country, ever since then coupled with the US trade war on China, the US has imposed business restrictions on the Chinese giant.

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