After the meeting Trump told reporters that he planned to grant licenses to US companies supplying components and services to Chinese telecoms giant Huawei. "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," he told reporters after the meeting.
Chief White House economic advisor Larry Kudlow clarified this by telling FoxNews that Huawei would remain on the entity list, but US companies that applied for licenses would be given permission to sell chips and services that could be found on "general markets" and on condition that there are no national security implications.
The Semiconductor Industry Association (SIA) welcomed President Trump's comments, saying: "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."
Meng Wanzhou, daughter of Huawei founder Ren Zhengfei, remains under arrest in Canada awaiting extradition to the US on charges of fraud over Huawei sales to Iran that were in breach of US sanctions banning trade with Iran.
Reportedly the position of Huawei's CFO was not discussed by the two presidents in their recent meeting.