Trump order will ban some foreign telecom equipment; NOK, ERIC gain

|About: Telefonaktiebolaget LM Eri... (ERIC)|By:, SA News Editor

President Trump has issued an executive order banning American telecom companies from installing foreign-made equipment that could threaten national security, the White House says.

The order instructs Commerce Secretary Wilbur Ross to "prohibit transactions posing an unacceptable risk," and while it doesn't mention one company or country, China's industry leader Huawei jumps to mind.

Trump declared the threat to U.S. telecom networks a national emergency.

Also likely affected is ZTE (OTCPK:ZTCOF), while beneficiaries of further prohibition are likely Ericsson (ERIC, up 2.6% after hours) and Nokia (NOK, up 0.6%).

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