The Trump administration on Wednesday slapped a major Chinese firm with an extreme penalty that makes it very difficult for it to do business with any U.S. company, a dramatic escalation of the economic clash between the two nations.
The Commerce Department’s Bureau of Industry and Security said it was adding Huawei Technologies Co. Ltd. to its “Entity List,” known to some as the “death penalty.”
This listing makes it virtually impossible for companies to survive once U.S. firms are discouraged from doing business with them. The Commerce Department said it had reached this decision because Huawei “is engaged in activities that are contrary to U.S. national security or foreign policy interest.”