Mubasher: Huawei said that the the push to restrict it from conducting business stateside will throw a wrench into the US progress in the deployment of next-generation mobile networks, while they could raise “other serious legal issues,” CNBC reported.

Further moves to block Huawei from the US market could end up in a damaging impact on the nation’s efforts to develop fifth-generation (5G) technology, the company said in a statement to the news outlet.

This “will not make the US more secure or stronger; instead, this will only serve to limit the US to inferior yet more expensive alternatives, leaving the US lagging behind in 5G deployment, and eventually harming the interests of US companies and consumers,” the statement said.

This just came after President Donald Trump on Wednesday signed an executive order that authorises the administration to ban transactions involving information and communications technology that “poses an unacceptable risk to the [US] national security.”

While Huawei was not directly named in the policy, the US has been heaping pressure on the Chinese telecoms giant, on allegations that it has ties to the Chinese Communist Party, and thus poses a security threat because its equipment could be accessed by Beijing for espionage purposes.

“We are ready and willing to engage with the US government and come up with effective measures to ensure product security,” a spokesperson told CNBC.