Kevin Wolf Quoted in Corporate Counsel on Economic Consequences of Huawei Trade Restrictions

Akin Gump international trade partner Kevin Wolf has been quoted by Corporate Counsel in the article “Compliance Concerns Spike Over Huawei Trade Restrictions.”

The article reports on the fallout from the Commerce Department’s announcement last week that it was placing China’s Huawei Technologies on its “entity list,” blocking it from selling any of its products in the United States. (Click here to learn more.) It says companies are seeking to understand their compliance responsibilities, particularly in light of the strict penalties they could face for violating the export ban.

Wolf noted that the action against Huawei could lead other Chinese companies to cut their ties with stateside businesses.

“There are foreign competitors that exist now or could exist soon,” Wolf said. “I’m not denying the national security issues here, but from an economic perspective this could motivate a move away from U.S. suppliers.”