(Meng Wanzhou, who denied wrongdoing, was allowed to leave Canada for China last year under a deferred prosecution agreement.) The conflict escalated with efforts to prosecute Huawei’s chief financial officer, the daughter of founder Ren Zhengfei, on fraud charges. The Trump administration blacklisted the company in 2019 and pressed allied nations like the UK and Japan to remove its telecommunications equipment out of concern it could be used for spying and espionage. Huawei, perhaps more than any other company, has been at the heart of US-China tensions. The company plans to start working on its 28-nanometer technology - six generations behind the most advanced manufacturing - next year, said one person familiar with its strategy. PXW said in a statement it’s inked agreements with suppliers and aims to begin production in 2025, without mentioning clients. It has more latitude to buy machines from foreign suppliers such as ASML Holding NV and Tokyo Electron Ltd., though they too may need to seek US approval depending on the amount of American technology infused into any products sold. If the firm intends to supply Huawei, it would be severely restricted in what chipmaking equipment it can buy from American suppliers. It’s not clear whether PXW’s strategic plans explicitly violate US trade sanctions. “BIS is constantly on the lookout for efforts to evade export controls, including those related to parties on the Entity List like Huawei, and uses open-source, proprietary and classified information to substantiate and then, when appropriate, apply our administrative or criminal law enforcement as well as regulatory tools to address violations.” The department is aware of the startup and “allegations of relationships with Huawei,” BIS said in response to a Bloomberg News query.
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