Market Chatter: US Plans to Block Chinese Tech from Undersea Internet Cables

MT Newswires Live
07/17

The US Federal Communications Commission (FCC) has unveiled plans to block submarine internet cables using Chinese equipment from connecting to the US, Reuters reported Thursday.

Citing rising cyber and espionage threats, FCC Chair Brendan Carr warned that the undersea cable network-responsible for 99% of global internet traffic-is vulnerable to foreign adversaries like China, according to the report.

The move builds on earlier cable project rejections and targets firms like Huawei, ZTE (HKG:0763, SHE:000063), China Telecom (HKG:0728, SHA:601728) and China Mobile (HKG:0941, SHA:600941).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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