Ren Zhengfei, president of Huawei Technologies Co., Ltd., said that even if Qualcomm and other US suppliers do not sell chips to Huawei, Huawei is “no problem” because “we have already prepared for this.”

Ren Zhengfei, founder and president of Shenzhen-Huawei Technology Co., Ltd., slammed the Trump administration’s decision to include Huawei in the government’s blacklist, insisting that Huawei did not commit any illegal activities.

Ren Zhengfei, president of Huawei, said in an interview with Japanese media at the Shenzhen headquarters of the company on Saturday: “We have not done any illegal activities.” This is the first time that the United States has been interviewed after the release of the Huawei trade ban.

Ren Zhengfei said that Huawei will continue to develop its own chips to reduce the impact of the production ban. He also pointed out that even if Qualcomm and other US suppliers do not sell chips to Huawei, Huawei is “no problem” because “we have already prepared for this.”

Hais Technology Co., Ltd., a Huawei subsidiary that mainly designs core processor chips, also hinted that there are plans to deal with potential supply disruptions. In a recent open letter, Hess President He Tingbo wrote, “We actually foreseen this day many years ago, and we did prepare a backup plan.”

Ren Zhengfei said that the impact of the US ban on Huawei’s business will be limited and express confidence in the long-term prospects. “It is expected that Huawei’s growth may slow down, but only a slight slowdown,” Ren Zhengfei added, saying that annual revenue growth may be slightly below 20%.

“The policy of threatening trading partners has made it impossible for companies to take risks, and the United States will lose credibility,” he said. On the other hand, he believes that US President Trump’s trade policy has provided impetus to China’s economic reforms. “I even suggest that the environment can be improved,” Ren Zhengfei pointed out.

The president of Huawei rejected the possibility of producing 5G equipment in the United States.  “Even if the United States asks us to produce there, we will not go,” he said.

Huawei purchases about $67 billion worth of parts every year, of which about $11 billion comes from US suppliers. Huawei relies especially on semiconductor component manufacturers in the United States. The company believes that the company may encounter problems in the production of smart phones and telecommunications equipment in the future.