financetom
World
financetom
/
World
/
Five Chinese companies pose threat to US national security - FCC
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Five Chinese companies pose threat to US national security - FCC
Mar 13, 2021 12:43 AM

The Federal Communications Commission (FCC) on Friday designated five Chinese companies as posing a threat to national security under a 2019 law aimed at protecting US communications networks.

The FCC said the companies included Huawei Technologies Co, ZTE Corp, Hytera Communications Corp, Hangzhou Hikvision Digital Technology Co and Dahua Technology Co.

A 2019 law requires the FCC to identify companies producing telecommunications equipment and services "that have been found to pose an unacceptable risk to US national security."

Acting FCC Chairwoman Jessica Rosenworcel said in a statement: "This list provides meaningful guidance that will ensure that as next-generation networks are built across the country, they do not repeat the mistakes of the past or use equipment or services that will pose a threat to US national security or the security and safety of Americans."

The 2019 law used criteria from a defense authorization bill that previously identified the five Chinese companies. In August 2020, the US government issued regulations barring agencies from buying goods or services from any of the five Chinese companies.

In 2019, the United States placed Huawei, Hikvision and other firms on its economic blacklist.

Last year, the FCC designated Huawei and ZTE as a national security threat to communications networks - a declaration barring US firms from tapping an $8.3 billion government fund to purchase equipment from the companies.

In February, Huawei challenged the declaration in a petition filed with the Fifth US Circuit Court of Appeals. Huawei declined to comment on Friday on the new FCC designation. The other four companies did not comment or could not be reached for comment.

The FCC in December finalized rules requiring carriers with ZTE or Huawei equipment to "rip and replace" that equipment. It created a reimbursement program for that effort, and US lawmakers in December approved $1.9 billion to fund the program.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
CANADA STOCKS-TSX posts biggest drop in two months as rate cut bets ebb
CANADA STOCKS-TSX posts biggest drop in two months as rate cut bets ebb
Apr 10, 2024
* TSX ends down 0.7% at 22,199.13 * Posts its biggest decline since Feb. 13 * BoC leaves benchmark rate on hold at 5% * Financials lose 1.6% (Updates to market close) By Purvi Agarwal and Fergal Smith April 10 (Reuters) - Canada's main stock index fell by the most in nearly two months on Wednesday as the Bank of...
TSX Closer:  Market Closes Lower As Debate Heats Up Over BoC's Decision To Hold The Line On Rates
TSX Closer: Market Closes Lower As Debate Heats Up Over BoC's Decision To Hold The Line On Rates
Apr 10, 2024
04:22 PM EDT, 04/10/2024 (MT Newswires) -- The Toronto Stock Exchange's S&P/TSX Composite Index closed Wednesday down 162.65 points to 22,199.63, following off a record as major lenders weighed in on whether the Bank of Canada needed to hold the line on interest rates or contemplate a cut come June after leaving its 5.0% benchmark rate unchanged. Energy and Battery...
Equities Close Lower After Inflation Report Exceeds Market Expectations
Equities Close Lower After Inflation Report Exceeds Market Expectations
Apr 10, 2024
04:36 PM EDT, 04/10/2024 (MT Newswires) -- US benchmark equity indexes closed down Wednesday after hotter-than-expected inflation report in March reduced the possibility of an interest rate cut in June. The Nasdaq Composite fell 0.8% to 16,170.4, and the S&P 500 was down nearly 1% at 5,160.6. The Dow Jones Industrial Average fell 1.1% to 38,461.5. Real estate led sector...
China's consumer prices rise for 2nd month, factory deflation persists
China's consumer prices rise for 2nd month, factory deflation persists
Apr 10, 2024
BEIJING, April 11 (Reuters) - China's consumer prices in March rose for a second straight month while producer price deflation persisted, pointing to still weak demand despite signs that the struggling economy is regaining some momentum. The consumer price index (CPI) grew 0.1% in March from a year earlier, against a 0.7% rise in February, data from the National Bureau...
Copyright 2023-2026 - www.financetom.com All Rights Reserved