Instead, the Swedish executive, who is attending the World Economic Forum in Davos, told America's CNBC network, the situation was "creating uncertainty in the market" and reducing investment globally.
Finland's Nokia is the other big name in the 5G market.
Ekholm told CNBC that he hoped a solution could be found to move things forward globally.
For more than a few years, the US has been campaigning to get countries it considers allies ban the use of Huawei equipment in their 5G rollouts. Only Australia has followed suit, with reports that others like Japan and Poland are likely to do so.
While the propaganda against Huawei has been expected to boost the market for both Ericsson and Nokia, Ekholm's statements indicate that the situation on the ground is somewhat different.
Later, during a dinner held for other chief executives and US President Donald Trump in Davos, Ekholm sought more access to mid-band spectrum and a streamlining of the process in the US if it wanted to lead in 5G development.
Pointing out that the US was Ericsson's biggest market, Ekholm said: " And what I would wish for is that the United States leads the development of 5G. That requires a couple of things.
"Spectrum – freeing up the C-Band really quickly; it’s going to be critical. Permitting processes still takes two years. Networks running out of capacity — it happens globally; it happens here as well. It happens everywhere. And then, permitting process is a real restriction.
"And the last one is actually the lack of power. We need to really invest in building the capabilities to actually roll out the network.
"When that happens, we will have – the United States will have a strong platform for innovation in 5G. And 5G, as the president well knows, is a consumer play, but it’s also an enterprise platform."