We're a US-based startup that does about $100-200k in business annually with Futurewei (Huawei's R&D subsidiary). I've never dealt with Huawei proper. I can say they're genuinely investing in R&D, and trying to build a product unlike anything being offered right now. We're working with tech that's floating around the academic conferences, but no one else commercially will touch.
This in contrast to our experiences with established US companies which, a) don't want to deal with early-stage research, b) wouldn't work with us as a new, small company, and c) gave bad IP terms (ironically).
Not excusing other activities, but for us it's been above-board and beneficial. If they want to pump their profits into the US ecosystem, I see that as beneficial.