A White House tech summit scheduled for Monday could be a make or break for U.S. companies wanting to do business with China-based telecom firm Huawei Technologies.
The meeting, which is expected to be attended by tech bosses from Google-owner Alphabet (GOOGL) - Get Report and computer memory manufacturer Micron Technology (MU) - Get Report as well as others, will discuss whether U.S. companies will be able to sell their products and services to Huawei, according to a report from Reuters. Huawei is the world's largest supplier for telecom technology.
The meeting comes just weeks after President Trump's administration put Huawei on a blacklist of companies that all but banned U.S. companies from doing business with the Chinese tech company. Huawei is seen as a potential national security threat to the U.S. due to its alleged close links to the communist rulers in China.
The U.S. also warned the U.K. government not to work with Huawei for security reasons.
Whether the ban continues may not be the sole topic of conversation at the summit but it likely will get discussed. U.S. companies will want to see if they can restart sales to the Asian giant.
The Reuters report cited Commerce Secretary Wilbur Ross as saying sales licenses will be issued if there is no national security threat.
Treasury Secretary Steve Mnuchin is expected to attend the meeting on Monday.
Constable owns none of the securities listed in this story.