US eases restrictions on Huawei; founder says US underestimates Chinese firm

The US government has temporarily eased trade restrictions imposed last week on China’s Huawei, a move aimed at minimizing disruption for its customers but dismissed by its founder who said the tech firm had prepared for US action.

The US Commerce Department will allow Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets.