Huawei being investigated for more intellectual property theft: report
Raymond James Washington policy analyst Ed Mills discusses the probe into Chinese tech giant Huawei and the U.S.-China trade dispute.
U.S. prosecutors are looking into more allegations of technology theft by China's Huawei.
The new investigation, being conducted by the Eastern District of New York, is focusing on whether Huawei stole intellectual property from multiple people and companies over a number of years, as well as Huawei’s recruitment of employees from the competition, The Wall Street Journal reports, citing people familiar with the matter.
Huawei declined FOX Business’ request for comment.
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| CSCO | CISCO SYSTEMS INC. | 57.46 | -0.46 | -0.79% |
Allegations against Huawei are nothing new. A number of U.S. companies, including Motorola Solutions, T-Mobile and CiscoOpens a New Window., have sued Huawei over the years, alleging the theft of trade secrets.
Huawei last year found itself in the middle of the trade skirmish between the U.S. and China when CFO Meng Wanzhou was arrested in Vancouver, Canada, on allegations of violating trade sanctions against Iran.
In May, the Trump administration signed an executive order that banned all U.S. companies from using Huawei equipment.
Huawei in June said its revenue would be about $100 billion over the next two years as a result of the ban - $30 billion less than forecast.
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The Trump administration lifted the ban in July as part of President Trump’s trade-war ceasefire with Chinese President Xi Jinping. The exemption was extended earlier this month for another 90 days. But, U.S. companies were blocked from doing business with Huawei.