Verizon CEO Hans Vestberg said on Thursday that he was not worried about the ongoing US-China trade war, which is affecting the company's success in the Sun Valley Media Conference in Idaho. "It seems you can do that without Huawei."
Verizon does not depend on China, he stressed. "We do not use a Huawei device and we have no impact on the Chinese trade war," he explained. "For us, this is not an event."
In May, the Trump government banned China-based Huawei from doing business in the US, citing national security concerns. While President Donald Trump agreed last month to allow Huawei to buy some US trading products as an incentive to resume trade talks with China, the White House remains firmly convinced that this step is not a complete reprieve.
Huawei entered the trade dispute between Washington and Beijing as the two nations race to construct the next generation of 5G wireless technologies. The Trump administration is concerned that Huawei's products may be embedded in US networks and spied on by the Chinese Communist government. Huawei has repeatedly denied that this would ever happen.
As for Verizon's 5G plans and competition to expand US capacity? Vestberg said he was not worried. "We will compete, we already have the best 4G market." He added, "We will only hammer and execute."
Verizon CEO: Do not break big tech.
Vestberg told CNBC on Thursday that it is not for the US government that regulates the technology industry or smashing big-tech companies like Facebook or Alphabet's Google.
"Customers will eventually judge them," he said.
More and more bipartisan lawmakers and Democratic 2020 presidential candidates are calling for state regulation of social media and technology platforms, citing antitrust and privacy concerns.
However, according to Vestberg, technological innovation is moving too fast for regulation to compete adequately.