Despite the current president's personal crusades, this is not about US protectionism. Companies in the US wouldn't benefit from a ban on Huawei equipment anyway, it would be Finland and Sweden who do.
Supply chain trust has always been a primary concern of any kind of critical resource/infrastructure defensive strategy. Every time a country relies on another for a critical ongoing need, it introduces an inherent power imbalance that the supplying country can use as a leverage. This kind of stuff is centuries-old geopolitical strategy, and it's still in the news every day when we're talking about energy, food, minerals, etc. (e.g. Russian pipelines) Why is communications infrastructure any different? It's not.