US Dept. of Commerce extends public comment period for input on Huawei temporary general license extensions

During the early Thursday morning in Asia, late-Wednesday night in the US, the Department of Commerce Bureau of Industry and Security (BIS) announced stretched the public comment period on Huawei temporary general license extensions.

Key quotes

The Department of Commerce Bureau of Industry and Security (BIS) announced an extension of the public comment period on Huawei Temporary General License Extensions through April 22, 2020. 

The BIS is seeking input on the continuing need for, and scope of, possible future extensions of the Temporary General License (TGL) for Huawei Technologies Co. Ltd. and its non-U.S. affiliates on the Entity List. 

The Department has received requests from industry to allow for additional comments, and is granting this request in support of robust consideration of future extensions of the TGL.

Earlier this month, the Department extended the TGL through May 15, 2020.  That date remains in place.

FX implications

While the news is considered to be a trade-positive one, the market’s present concentration on the coronavirus (COVID-19) and aid packages dimmed traders’ reaction to the announcement.