via Zerohedge:

US equity markets are tumbling after hours following reports from Bloomberg that, according to people familiar with the matter, The White House is holding off on a decision about licenses for U.S. companies to restart business with Huawei after Beijing said it was halting purchases of U.S. farming goods.

American businesses require a special license to supply goods to Huawei after the U.S. added the Chinese telecommunications giant to a trade blacklist in May over national-security concerns. There are reportedly over 50 requests that are pending, but more notably this is yet another clear escalation in what everyone hoped was a short-term ‘stablization’ in tensions between China and US.

As a reminder, Trump said last week there were no plans to reverse the decision he made in Japan to allow more sales by U.S. suppliers of non-sensitive products to Huawei. He said the issue of Huawei is not related to the trade talks.



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