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In its filing, Tesla said it had amended its asset-backed lending credit agreement with a syndicate of banks, increasing revolving commitments by $500 million to a total of $2.425 billion, while extending the maturity date of the agreement by three years. The credit agreement is secured by part of Tesla’s accounts receivable, inventory and equipment. Tesla borrowed $431.0 million under the agreement in 2018. The amendment also doubled the letter of credit subfacility to $400 million from $200 million.

HONG KONG/WASHINGTON (Reuters) - Chinese telecoms equipment maker Huawei Technologies sued the U.S, government on Thursday, saying a law limiting its American business was unconstitutional, ratcheting up its fight back against a government bent on closing it out of global markets, Huawei said it had filed a complaint in a federal court in Texas challenging Section 889 of the National Defense Authorization mickey mouse smile cufflinks Act (NDAA), signed into law by U.S, President Donald Trump in August, which bars federal agencies and their contractors from procuring its equipment and services..

The lawsuit marks the latest confrontation between China and the United States, which spent most of 2018 slapping import tariffs on billions of dollars worth of each other’s goods. The year ended with the arrest of Huawei’s chief financial officer in Canada at U.S. request, to the consternation of China. Long before Trump initiated the trade war, Huawei’s activities were under scrutiny by U.S. authorities, according to interviews with 10 people familiar with the Huawei probes and documents related to the investigations seen by Reuters.

“The U.S, Congress has repeatedly failed to produce mickey mouse smile cufflinks any evidence to support its restrictions on Huawei products, We are compelled to take this legal action as a proper and last resort,” Huawei Rotating Chairman Guo Ping said in a statement, “This ban not only is unlawful, but also restricts Huawei from engaging in fair competition, ultimately harming U.S, consumers,” he said, “We look forward to the court’s verdict.”, While Huawei had very little share of the U.S, market before the bill, it is the world’s biggest telecoms gear maker and is seeking to be at the forefront of a global rollout of fifth-generation (5G) mobile networks and services..

In its lawsuit, Huawei said its “equipment and services are subject to advanced security procedures, and no backdoors, implants, or other intentional security vulnerabilities have been documented in any of the more than 170 countries in the world where Huawei equipment and services are used.”. The privately owned firm has embarked on a public relations and legal offensive as Washington lobbies allies to abandon Huawei when building 5G networks, focusing on a 2017 Chinese law requiring companies to cooperate with national intelligence work.

“The U.S, Government is sparing no effort to smear the company mickey mouse smile cufflinks and mislead the public,” Guo said in a news briefing at Huawei’s headquarters in southern China, The U.S, State Department declined comment on the lawsuit on Thursday, “More generally,” State Department spokesman Robert Palladino told reporters, “the United States advocates for secure telecom networks and supply chains that are free from suppliers subject to foreign government control or undue influence which would pose risks of unauthorized access and malicious cyber activity.”..

U.S. Representative Mike Conaway, a Texas Republican who has sponsored anti-Huawei legislation, called the Huawei lawsuit “bogus.”. The NDAA bans the U.S. government from doing business with Huawei or compatriot peer ZTE Corp or from doing business with any company that has equipment from the two companies as a “substantial or essential component” of their system. In its lawsuit, filed in U.S. District Court in the Eastern District of Texas, Huawei argues that the section in question is illegal because it could sharply limit the company’s ability to do business in the United States despite no proof of wrongdoing.

The lawsuit also alleges that Huawei has been denied due process and that Congress, by stripping Huawei of commercial opportunities, has violated the “separation of powers” portion of the U.S, Constitution by doing the work of the courts, Chinese foreign ministry spokesman Lu Kang said he had no information on mickey mouse smile cufflinks whether China’s government may also seek legal action against the U.S, law, but added Huawei’s move is “totally reasonable and totally understandable.”..

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