According to the Telegraph, HSBC Holdings PLC (HSBC) Chairman Mark Tucker is reported to have told one of the British Prime Minister’s advisers that HSBC bank in China could face retaliation if Britain bans networking equipment from Huawei Technologies.

This past January, Britain designated Huawei a “high-risk” vendor and placed a limit to Huawei’s 5G participation in the UK 5G network at 35% and excluding Huawei form the data-heavy core of the network.

In addition, there are current discussions with entirely removing Huawei out of the 5G network by 2023.