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New U.S. Commerce head will use ‘Entity List’ to “full effect”

Stock Markets40 minutes ago (Mar 04, 2021 10:30AM ET)

(C) Reuters. FILE PHOTO: Gina Raimondo, Biden’s nominee for secretary of Commerce, speaks in Wilmington, Delaware

WASHINGTON (Reuters) – New U.S. Commerce Secretary Gina Raimondo said she will use the Entity List, a powerful tool that has been used to limit the flow of U.S. technology and products to China’s Huawei and others, to its “full effect”.

“Chinese telecommunications companies are a threat to American economic and national security. We’re going to use [the list] to its full effect,” she told NBC News in a story published on Thursday.

She added that she would keep Huawei and other firms on the list for now, the report said.

During her confirmation hearing she had declined to commit to keeping telecommunications company Huawei Technologies on the economic blacklist.

U.S. suppliers to companies on the entity list must apply for special licenses before they ship goods oversees, but the applications are often denied.

New U.S. Commerce head will use ‘Entity List’ to “full effect”

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