The U.S. administration is considering limits to Chinese video surveillance firm Hikvision’s ability to buy U.S. technology, the New York Times reported on Tuesday, in a move that deepens worries about trade frictions between the world’s two top economies, ONA reports citing the New York Times
The move would effectively place Hikvision on a U.S. blacklist and U.S. companies may have to obtain government approval to supply components to Hikvision, the paper said.
The U.S. Commerce Department blocked Huawei Technologies from buying U.S. goods last week, effectively banning U.S. companies from doing business with the Chinese firm, a major escalation in the trade war, saying Huawei was involved in activities contrary to national security.
The White House did not immediately respond to a request for comment on the report.
Hikvision shares opened 10% lower but an executive in the company’s office told Reuters the company had not been informed of the possible U.S. blacklisting.
“The chips Hikvision uses are very commercial and most of the suppliers are actually in China although there are some in the United States,” said the executive, who declined to be named due to the sensitivity of the matter.
“Even if the U.S. stops selling them to us we can remedy this through other suppliers” she said.