The issue isn't the product itself - the issue is that the company that produces is controlled by an outwardly hostile foreign nation that has a history of carrying out state sponsored cyber attacks against critical infrastructure in the west.
And that's exactly the same as the US. Plus the US are actively spying including using their power to support US companies and undermine democracies.
I wanna be clear here, neither "side" is to be trusted or safe or fine. But China is no more of a threat to third party nations' network security that the US as far as I can tell.
And I am normally the one being Hawkish on China.
-APT1 is believed to be the 2nd Bureau of the People’s Liberation Army (PLA) General Staff Department’s (GSD) 3rd Department (总参三部二局), which is most commonly known by its Military Unit Cover Designator (MUCD) as Unit 61398 (61398部队).
-APT1 has systematically stolen hundreds of terabytes of data from at least 141 organizations, and has demonstrated the capability and intent to steal from dozens of organizations simultaneously.
[0] https://www.fireeye.com/content/dam/fireeye-www/services/pdf...
In the case of China/Huawei the hostile posturing has been largely coming from US/West and not from China. I see much anti China rhetoric emenating from US, but comparatively less the other way round.
Even if they preformed economic espionage, why in the world would they allow themselves to be put into a position where it can easily be done to them?