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Report: US puts Huawei license decision on hold amid worsening trade row

The U.S. has put on hold the review process of licenses requested by domestic companies hoping to resume business with Huawei Technologies Co. Ltd., amid escalating trade tensions with China, Bloomberg News reported, citing people familiar with the matter.

There are some 50 applications pending, Commerce Secretary Wilbur Ross said last week, and the government was reportedly expected to make a decision this week.

The move comes as Chinese companies stopped buying U.S. agriculture products and China did not rule out the possibility of imposing new tariffs on imported U.S. farm products after the U.S. decided to levy a 10% tariff rate on $300 billion worth of Chinese imports in September.

The Chinese central bank expressed "deep regret" over the recent U.S. decision to label China a currency manipulator after the latter weakened the yuan past 7 per dollar for the first time in more than a decade Aug. 5.