WASHINGTON—U.S. lawmakers plan to unveil a bill on March 12 that could be used to block Huawei Technologies from accessing U.S. banks for certain transactions, in a bid to thwart the Chinese telecoms giant.
The bill, with sponsors including top Senate Democrat Charles Schumer, Republican Senator Tom Cotton, and House Republican Mike Gallagher, would ban U.S. firms from taking part in “significant” transactions with foreign companies that produce 5G telecommunications technology and engage in industrial espionage.
