Finance

Chip stocks drop after US reportedly delays sales licenses for Huawei

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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.

Sarah Silbiger | Bloomberg | Getty Images

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 said, citing people familiar with the…



Source cnbc.com

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