Huawei has declared the new US export ruling is “arbitrary and pernicious”.
Huawei Chinese tech giant has warned its investors that the restrictions will, “inevitably” hurt its business, and could lead to huge damages to the international technology community.
The company was originally blacklisted by the United States last year, due to Huawei being considered a security threat.
These restrictions have just been extended for a for a further period of time.
Chairman Guo Ping told an analyst summit on Monday: “Luckily we have survived so far.”
On Friday the US said that it would require international semiconductor manufacturers that use any US technology and software in chip design to seek US Governmental approval in order to ship Huawei.
The reason for this was to close a loophole, which had become clear since the initial blockage
“Our business will inevitably be impacted,” Guo Ping said of the new rules. “In spite of that, as the challenges over the past year have helped us develop a thicker skin, we are confident about finding solutions soon”.
Since the blacklisting Huawei has been forced to rewrite computer code, review procurement and spend thousands of hours to ensure business continuity.
“Huawei is just like this plane riddled with bullet holes,” he said. “Over the past year, patching up the holes was our priority.”
Huawei warn that the aggressive approach the US has taken against them will cause international repercussions and a loss of trust in the country.
“It will damage the trust and collaboration within the global semiconductor industry and could increase conflict and loss within these industries,” it said.