Personally, I don't trust Huawei but that's mostly down to stories I've heard about industrial espionage against alternative suppliers.
For instance I never liked the way that BT replaced Marconi equipment with Huawei stuff in their 21CN network way back when. I think the government of the day was foolish to allow that to happen.
The bosses at BT at the time are long since retired on fat pensions and Marconi is now gone for good.
The US will be looking for the UK to pay US-style inflated prices for pharmaceuticals, change food safety standards to accept subsidised US farm produce, and install an ISDS court to protect corporations' anticipated future profits.
Compared to these, banning Huawei - which isn't even a British company - would be a trivial concession.