Huawei founder says Trump's reprieve won't have 'much impact': Financial Times

Huawei
In light of President Trump easing some restrictions on U.S. companies doing business with Huawei, Huawei chairman and founder Ren Zhengfei says his company will continue to focus on "doing our job right." (FierceTelecom)

Huawei chairman and founder Ren Zhengfei isn't putting much stock in President Trump's decision to ease some of the restrictions for U.S. companies selling their components to Huawei.

On Saturday, Trump said the ban his administration put in place was unfair for U.S. suppliers who could not their sell parts and components to Huawei without government approval. While there's still some confusion in regards to what the U.S. vendors can sell to Huawei, Ren was nonplussed by last weekend's news.

According to a Tuesday article by the Financial Times (subscription required), Ren said Trump's decision to ease off elements of the ban wouldn't have a much of an impact on Huawei's plans.

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"President Trump's statements are good for American companies. Huawei is also willing to continue to buy products from American companies," Ren said, according to the Financial Times. "But, we don't see much impact on what we are currently doing. We will still focus on doing our own job right."

RELATED: New report sizes up trade war, tariffs and Huawei effects across industry sectors

In May, President Trump put Huawei on a trade blacklist that was designed to make it difficult for the world's largest telecom vendor do business in the U.S., while also seeking to influence other countries to take similar measures. Based on that "Entity List," companies such as Google said they would stop doing business with Huawei across some areas of technology.

With the trade wars with China heating up, the U.S. has maintained that using some of Huawei's telecom gear created a security risk due to "backdoors" in the equipment that could be accessed by the Chinese government. Huawei has long maintained that's not the case.

During a presentation last month at Huawei's headquarters, Ren said that Huawei's revenue would be down 30% this year, and that revenue would come in at an estimated $100 billion. By comparison, Huawei's revenue for 2018 increased by almost 20% to $105 billion.

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