US Lawmakers Keep Pressuring China with Bill Restricting Huawei’s Access to Banks

The U.S. lawmakers announced a bipartisan bill that will restrict Chinese tech companies such as Huawei Technologies Ltd and Chinese 5G companies from accessing U.S banking services.

The bill was introduced by Tom Cotton, Senator of Republican, and supported by lawmakers such as Chuck Schumer, the Leader Senate Majority of Democrat. The aim of this bill is to “severely sanction” Huawei, and other “untrustworthy” Chinese 5G producers that have been reportedly engaging in economic espionage against U.S.

The bill is similar to the one proposed by Donald Trump when he was in office in 2020.


“We’ve made great strides in recent years at home and abroad in combating Huawei’s malign attempts to dominate 5G and steal Americans’ data,” Cotton said in a statement.

“We cannot allow Huawei and the Chinese Communist Party to have access to Americans’ personal data and our country’s most sensitive defense systems,” he added.


In October, the U.S. prosecutors charged two Chinese officials while trying to tamper with the Huawei investigation. The two Chinese officials attempted to enlist U.S. law enforcement agents to work as their spy.

In November, the U.S Federal Communications Commission adopted rules banning new telecommunications equipment from Huawei.