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U.S. furthers restrictions on Huawei’s access to chips

The U.S. Commerce Department tightened rules on Huawei access to chips produced by U.S. technology. Yahoo Finance's On The Move panel discusses.

Video Transcript

ADAM SHAPIRO: You know, another issue that we have to pay attention to, Commerce Department issuing new rules regarding Huawei technology and their ability to buy foreign-made chips. What does this mean?

DAN HOWLEY: Yeah, this is basically going to be a continuation of what we've seen out of Huawei not being able to get access to chips that are foreign-made with designs from the US. Basically, this is the Trump administration's additional efforts to squeeze the company. We've seen them limit the ability for them to work with Google, the Android Play Store, Android apps-- major parts of Huawei's smartphones. And that's really something that's starting to hit them hard.

They recently said that they may not have enough chips moving forward, at least as far as high-end smartphone chips go, because of these US-backed restrictions. So I think for Huawei, it's just another sign that the Trump administration isn't letting up any time soon. And it could be part of a situation where we eventually see China try to back a candidate like Joe Biden for the Democratic ticket.

ADAM SHAPIRO: Dan Howley, thank you very much.