Biden Administration may revoke Huawei export licenses
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In a sign that the relations between the United States and China are still long way from warming, the Biden Administration is reportedly considering revoking export licenses for U.S. companies doing business with Chinese telecom tech giant Huawei.
The move would be and expansion of recent U.S. efforts to tighten up on tech sales to China due to concerns about Chinese companies ties to the country's government and military. Companies that could be impacted by any new U.S. restrictions include semiconductor giants include Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM), as the move would cover chips used in 5G smartphones, older mobile phones and other devices.
Should the U.S. crack down on business with Huawei, the American companies would have their export licenses revoked and be unable to sell their products to the Chinese telecom equipment leader. According to a report from the Wall Street Journal, the policy which had allowed some equipment sales to Huawei is being "wound down". The Journal cited a former security official with ties to the Biden Administration as saying that the White House has decided "the time has come to do more pain to Huawei."
For its part, Huawei has been on a U.S. Commerce Department "entity list" since 2019 due to national security concerns about Beijing using the company's technologies for spying purposes. Several U.S. companies have been given exemptions that allow them to sell older processors and phone chips that are more widely available, and U.S. chipmakers have argued that the restrictions are hampering the growth of the domestic chip industry.
Relations between Washington and Beijing have cooled recently due to a Chinese spy balloon that spent a week flying over the continental U.S. before the American military shot it down over the Atlantic Ocean. 
On Tuesday, the White House issued a 30-day timeline for U.S. governmental departments to remove and ensure that the Chinese-owned TikTok app is not on any federal mobile or computer devices.