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US president Donald Trump said he plans to revoke the ban, or, er, grant some licences to American companies supplying components and services to Chinese telecoms giant Huawei.
Speaking after meeting the Chinese president, Xi Jinping, Trump said: "American companies that make product, that's very complex by the way, highly scientific... I've agreed to allow them to continue to sell that product."
Word - Salad - White - House - Adviser
Beyond that Trumpian word salad, it is not clear precisely what has happened. White House economic adviser Larry Kudlow told Fox News that Huawei would remain on the entity list - where it was placed in May and which means that US firms must apply for special permission to sell to it - but US companies could sell it chips and services which could be found on "general markets".
The Semiconductor Industry Association (SIA) released the following statement:
Progress - Today - President - Trump - President
The progress made today by President Trump and President Xi in Osaka is good news for the semiconductor industry, the overall tech sector, and the world's two largest economies. We are encouraged the talks are restarting and additional tariffs are on hold and we look forward to getting more detail on the president's remarks on Huawei.
The relaxing of rules around granting American businesses licences to trade with the Chinese firm is unlikely to go unopposed. Several US senators including Florida man Marco Rubio have...
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