$100m Huawei Goods Seized
Electronics manufacturer Flex held up goods worth more than US$100 million belonging to its Chinese client Huawei Technologies for more than a month after Washington put Huawei on a trade blacklist.
Flex kept the Huawei assets in its factory in the southern city of Zhuhai after Washington added Huawei to an “entity list” on May 16.
The list prohibits US companies from doing business with the Chinese telecommunications networking giant.
Flex is dual-headquartered in the US and Singapore and manufactures smartphone and 5G base stations for Huawei.
Huawei said it had retrieved around $84 million worth of goods after negotiations with Flex last month, but is still trying to get back the rest.