| Hi, it's Natalia in Brussels. It's not just U.S. and Chinese companies bearing the brunt of the Trump administration's hard-line policies on China. European companies are getting squeezed, too.
Washington has for months pressed European allies to scrutinize business ties with Beijing, invoking concerns about national security and espionage. And Huawei Technologies Co. has been front-and-center of the campaign, leaving European telecoms companies in limbo waiting for more clarity from their governments about whether they can partner with the Chinese telecommunications giant to build out 5G mobile networks.
The European Union is trying to defuse the possibility that any member country or company becomes the target of Chinese or U.S. retaliation. Its strategy is to form a common approach across the bloc, with guidance due to be published Wednesday around how to mitigate the risks posed by 5G. The U.K., which leaves the bloc Friday, is also due to announce its strategy on Huawei as soon as Tuesday.
It's a tricky balance. U.S. officials have for the past year been urging European counterparts to exclude Huawei from 5G network construction. If the group's governments ignore the entreaties, the U.S. has warned it could freeze them out of crucial intelligence sharing with Washington.
Meanwhile, senior Chinese officials have highlighted German car companies – the crown jewel of Europe's biggest economy – as a potential target for retaliation if Huawei is banned from their markets.
The EU will recommend member states ban some high-risk suppliers from parts of their 5G networks and that they use parts from a diversity of companies, an advance copy obtained by Bloomberg shows.
But the EU doesn't have the power to force its countries to ban Huawei or not. That leaves any guidelines up for interpretation, and policies may end up differing wildly from one country to another. Hiding in the herd will be difficult.
While few, if any, European countries appear set to ban Huawei altogether, the debate has pushed several to reconsider the extent of their reliance on the Chinese company's equipment.
That includes the U.K., which is set to announce it will allow the Chinese telecoms equipment giant in its network. Prime Minister Boris Johnson is considering imposing a market share cap on Huawei in a bid to avoid over-reliance on the Chinese company, according to the Financial Times. The U.S. has said incorporating Huawei in any part of the network still poses a risk.
But that may be just enough of a compromise for both the U.S. and China to claim they got their way in Europe. | 
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