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Huawei and Other Chinese Firms Face Being Frozen out of Banks amid US Sanctions

US lawmakers want to clamp down on Huawei and Chinese 5G companies by restricting access to US bank accounts.


As US lawmakers and legislators continue to clamp down on Chinese commerce, a familiar foe is in the crosshairs. , the company that has been hit by US sanctions before, could not be frozen from U.S. banks if a new bill is passed.

A bipartisan bill that has been introduced by a group of lawmakers would prevent Huawei and other Chinese 5G brands from accessing their U.S. bank accounts.

Republican senator Tom Cotton and lawmakers including Senate Majority Leader Chuck Schumer want to publish these companies over allegations they engage in espionage against the United States on behalf of the Chinese government.

In a statement on Tuesday, senator Tom Cotton said:

“We've made great strides in recent years at home and abroad in combating Huawei's malign attempts to dominate 5G and steal Americans' data. We cannot allow Huawei and the Chinese Communist Party to have access to Americans' personal data and our country's most sensitive defense systems.”

Huawei has often been at the center of the trade war between the US and . In fact, the US decision to ban the company from using any US-based suppliers kicked off the whole saga. That decision meant Huawei could no longer use on its smartphones or sell them within the United States.


Earlier today, I reported on the US also seeking to stop all government employees from using TikTok on their devices.

Specifically, a new bill was approved Wednesday that will prevent federal employees from installing and/or using on government-owned hardware. Before it becomes law, The bill (PDF) must now get approval by the US House of Representatives.

Tip of the day: If you need to Create, Delete or Resize Partitions, Windows has everything you thanks to the built-in Disk Management-tool.

Luke Jones
Luke Jones
Luke has been writing about all things tech for more than five years. He is following Microsoft closely to bring you the latest news about Windows, Office, Azure, Skype, HoloLens and all the rest of their products.

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