The founder of Huawei said that he considers Trump as a great president but also mentioned that Trump’s political defects will ruin the policies which can help in the economy of United States.
The CEO of Huawei, Ren Zhengfei said that he praises the cuts in tax made by Trump which ensures the increase in the stock market and will allow companies to make good earnings. Ren claimed that Trump’s intimidating tactics over some companies of other countries will reduce the investment done by foreign countries in the US.
On Monday, in an interview organized by CNBC, Ren said that if US President continued decelerating people and kept intimidating other companies and countries then no outside country will invest in the US market to protect them from getting trapped in US policies.
Ren added that the US market will not get their revenues and overcome from loses, as no country or company will think about investing there.
Ren said that after reducing taxes, President Trump must be thinking that more investments will be done in US market. But these hopes will not turn true as investors will be afraid of losing their money so they will not invest.
Last year, Huawei had prominently taken part in a trade war initiated between the US and China. Due to this, the distribution of high speed 5G internet technology of Huawei became limited and even blocked by some other countries and United States. This action was taken to resist the Chinese market from spying other country’s market.
In December, Canada confined Meng Wanzhou, the CFO of Huawei and Ren’s daughter in the charges of violating the sanctions of US against Iran, on the request made by the US government. These charges were denied by both Huawei and Meng. Ren said that Trump should get friendly with other companies and countries. Even he should have started getting friendlier after the reduction in taxes. This action will increase the economy of United States. He added that US has huge skills and technologies so they don’t need to fight with the world or do violence.