The US administration has delayed the implementation of a ban on trade between Huawei and American institutions for 90 more days.
A "temporary general license" was due to expire on Monday but U.S. Commerce Secretary, Wilbur Ross, said on Fox News that some companies needed more time to switch their equipment.
"Some of the rural companies are dependent on Huawei. So we're giving them a little time to wean themselves off. But they are no specific licenses being granted for anything," he said.
With this extension, the Chinese tech giant can still buy supplies from U.S. companies and service their existing customers.
Huawei had now been joined by 46 affiliates on the Entity List — a U.S. economic blacklist that some say is also harming American public companies.
According to the independent media platform Light Reading, such companies lost $435 million (€392 million), during the second quarter of 2019 because of the upcoming Huawei ban.
A Reuters report shows that $11 billion of the $70 billion that Huawei spent on components last year was at U.S. firms, like Qualcomm (NASDAQ:QCOM) or Intel (NASDAQ:INTC).
Western Digital (NASDAQ:WDC)'s CEO said that, when his company suspended shipments to Huawei, the Chinese tech giant moved to competitors that were not impacted.
Huawei relies on Google (NASDAQ:GOOGL)'s Android for its mobile phones but is developing its own operating system, Harmony.