US actions against Huawei will “affect tens of thousands of American jobs,” according to the company.

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Chinese tech giant Huawei says its blacklisting by the US will harm jobs, industry and economics in the states.

“This decision is in no one’s interest,” Huawei said in a statement Thursday. “It will do significant economic harm to the American companies with which Huawei does business, affect tens of thousands of American jobs and disrupt the current collaboration and mutual trust that exist on the global supply chain.”

Huawei added that it will immediately seek remedies against the decision and “find a resolution.”

The company had been added to the US Department of Commerce’s Bureau of Industry and Security Entity List late Wednesday, following an executive order from President Donald Trump effectively banning Huawei from US communications networks. Among other things, the Entity List applies to companies engaging in “activities contrary to US national security and/or foreign policy interests,” according to the bureau’s website.

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The core issue with Huawei has been concerns over its coziness with the Chinese government and fears that its equipment could be used to spy on other countries and companies. The CIA has reportedly warned intelligence officials that Huawei receives funding from China’s National Security Commission, the People’s Liberation Army and a third branch of the Chinese state intelligence network.

Trump’s executive order declared that foreign adversary threats to communications networks, technology and services are a national emergency. Huawei has repeatedly denied that its products pose a security threat, following Australia banning Huawei from 5G in August.

In its statement Thursday, Huawei called itself “the unparalleled leader in 5G” and said the US ban would lead to the states “lagging behind” in deployment of the next-generation networking technology.

“We are ready and willing to engage with the US government and come up with effective measures to ensure product security,” Huawei said. “Restricting Huawei from doing business in the US will not make the US more secure or stronger; instead, this will only serve to limit the US to inferior yet more expensive alternatives.”

CNET’s Steven Musil contributed to this report.

Tags Mobile Phones Politics Huawei

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