Panasonic 'suspends transactions' with Huawei after US ban

Panasonic 'suspends transactions' with Huawei after US ban
  • Clock-gray 10:43
  • calendar-gray 23 May 2019

Japan's Panasonic said it was halting business with Huawei to comply with US restrictions, dealing a fresh blow to the Chinese telecoms firm, ONAreports citing BBC.

Last week the US put Huawei on a list of companies that American firms cannot trade with unless they have a licence.

The ban applies to goods having 25% or more of US-originated materials, according to reports.

The restrictions mark an escalation in US efforts to block Huawei, which it says poses a security risk.

"Panasonic announced in [an] internal notification that it should suspend transactions with Huawei and its 68 affiliates that were banned by the US government," the firm said in a statement.

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