A group of US lawmakers have introduced a bill to subsidize companies developing 5G technology to counter China’s Huawei. It comes as Washington mounts pressure on its allies to turn away from Chinese technology.
The legislation titled ‘Utilizing Strategic Allied Telecommunications Act’ would allocate at least $750 million or up to five percent of annual auction proceeds for companies developing the next generation technology for the US mobile broadband market. Additionally, it stipulates the creation of a separate $500 million fund (Multilateral Telecommunications Security Fund) for developers of “trusted and secure” equipment around the world.
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