In an email to enforcement staff on Monday and seen by Reuters, John Sonderman, Deputy Director of the Office of Export Enforcement, in the Commerce Department’s Bureau of Industry and Security (BIS), sought to clarify how agents should approach license requests by firms seeking approval to sell to Huawei.
Sonderman noted: “This party is on the Entity List. Evaluate the associated license review policy under part 744,” adding that regulations that include the Entity List and the “presumption of denial” licensing policy that is applied to blacklisted companies.
This comes despite Saturday’s trade truce announced by Presidents Trump and Xi. Trump had said he would allow the US companies to sell products to Huawei Technologies Co Ltd.
The Yen remains well bid amid resurfacing US-China trade worries, keeping the USD/JPY pair pressure below the 200-hourly SMA to trade near the midpoint of the 107 handle.
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