U.S. Lawmakers To Restrict Huawei’s Access To U.S. Banking System

According to a report on December 14th, U.S. bipartisan lawmakers have introduced a bill to sanction Huawei and Communist China’s 5G companies, restricting their access to U.S. banks. The bill, introduced by Republican Senator Tom Cotton and supported by lawmakers including Senate Majority Leader Chuck Schumer, a Democrat, aims to “severely sanction” Huawei and other “untrustworthy” Chinese Communist Party (CCP)’s 5G producers that they said are engaged in espionage against the U.S. economy. The bill would add those entities to the Department of the Treasury’s list of specially designated countries, effectively freezing them out of the U.S. financial system. In a statement on Tuesday, Cotton said that American lawmakers have made great progress in recent years, both at home and abroad, in combating Huawei’s egregious dominance of 5G and the theft of Americans’ data, and they cannot allow Huawei and the CCP to gain access to Americans’ personal data and the nation’s most sensitive defense systems. In October, U.S. prosecutors charged two CCP intelligence officials with attempts to tamper with Huawei’s investigation. Prosecutors said the two Chinese had tried to recruit a U.S. law enforcement officer as their spy, but the recruit was actually a U.S. special agent. Last month, the U.S. Federal Communications Commission passed rules banning new telecom equipment from Huawei.

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