Chip stocks drop after US reportedly delays licenses for companies to restart sales to Huawei

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Chip stocks drop after US reportedly delays licenses for companies to restart sales to Huawei
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The U.S. is putting its decision to relieve Huawei on hold after China suspended its purchase of U.S. agricultural products, according to a Bloomberg News report.

President Donald Trump last month agreed to give "timely licensing decisions" to allow a slew of tech companies including Google and Broadcom to sell to the Chinese telecom giant.

But the latest escalation in the trade war made the administration reconsider the move, Bloomberg News said, citing people familiar with the matter.President Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House in Washington, D.C., U.S., on Wednesday, Aug. 7, 2019.The U.S. is putting its decision to relieve Huawei on hold after China suspended its purchase of U.S.

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