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Market Chatter: Republican Lawmakers Criticize Biden Administration After Huawei Unveils Laptop Powered by Intel Chip
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Market Chatter: Republican Lawmakers Criticize Biden Administration After Huawei Unveils Laptop Powered by Intel Chip
Apr 15, 2024 5:38 AM

08:16 AM EDT, 04/15/2024 (MT Newswires) -- Republican US lawmakers criticized the Biden administration after Huawei unveiled its MateBook X Pro laptop powered by Intel's ( INTC ) Core Ultra 9 processor, Reuters reported late on Friday.

This raised concerns that the Commerce Department had approved chip shipments to Huawei, a Chinese telecoms equipment giant that has been on a trade restriction list since 2019 for violating Iran sanctions.

The Trump administration granted Intel ( INTC ) a license under which the company has been shipping processors to Huawei for laptops since 2020, the report said. While some China hardliners wanted the Biden administration to revoke it, some accepted it believing the license would not be renewed later this year, it added.

The chips were shipped to Huawei under a preexisting license, a source familiar with the matter told Reuters.

The Commerce Department, Intel ( INTC ) and Huawei did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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