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Following the UK's decision to allow wireless network operators to source noncore equipment from Huawei, US officials are considering buying a competitor to the Chinese supplier, such as Ericsson or Nokia, according to CNBC.

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US President Donald Trump's reaction to the decision was characterized as "apoplectic" by The Financial Times, and subsequently US Attorney General William Barr spoke at a conference about steps the US is considering encouraging or taking to counter Huawei's prominence.

Barr's statements laid out two potential courses of action that the US could take to blunt Huawei's dominance in the global networking equipment market. He said:

"We have to make a decision on the horse we're going to ride in this race. Who is the 5G equipment supplier or suppliers that we will rely on to compete against Huawei around the globe, to win contracts from operators and blunt Huawei's drive to domination. ... These concerns could be met by the United States aligning itself with Nokia and/or Ericsson through American ownership of a controlling stake, either directly or through a consortium of private American and allied companies. Putting our large market and financial muscle behind one or both of these firms would make it a far more formidable competitor and eliminate concerns over its staying power or their staying power."

The overall goal of the options Barr outlined is to ensure that 5G networks remain secure and the US maintains global technological leadership.

Were the US to buy a Scandinavian networking vendor directly or work with private interests to convince them to do so, it would radically transform the global wireless networking market. Here are some of the ramifications such a move could have:

Despite Barr's characterization of China as fully behind Huawei, Ericsson and Nokia have assumed a significant role in Chinese 5G rollout. China Mobile, for example, awarded half of $2 billion in networking contracts to Huawei, about a third to Ericsson, and 10% to Nokia. One of those vendors aligning itself closely with the US government or its vested interests would likely cause China to prohibit operators from working with it, following the US' lead, and thereby cutting that vendor off from a huge market.

Bids to win business in other countries would take on a political dimension that's currently minimal, especially should the US pursue direct acquisition. A network operator — especially partially state-owned operators such as Germany's Deutsche Telekom or Indonesia's Telkomsel — could be forced to add soft considerations to the already-challenging process of weighing cost with network complexity and compatibility.

A US-aligned networking company could open up swathes of the market for competitors. Whether that be the other Scandinavian provider or a company such as Samsung, there could be an opportunity to step into markets such as China where a US company wouldn't likely be as competitive as the sorts of companies discussed above. It could do so because it would sidestep the political questions raised by working with either Huawei or a US-owned or -aligned networking vendor.

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