The Trump administration was poised to offer a new reprieve for US companies selling to Huawei, easing tensions with Beijing after a rapid escalation in the trade war between the countries this month. 

According to people familiar with the matter, the US commerce department was preparing to extend a temporary general licence for companies to do business with Huawei for 90 days, with an announcement due on Monday. The final details of the extension had not been ironed out, so there could be some changes to the announcement that could make it fall short of a blanket renewal, however. The commerce department declined to comment. 

The decision to allow more time for transactions between Huawei and US companies will probably be interpreted as an olive branch from Washington to Beijing, as they attempt to get trade negotiations back on track after a testy few weeks that rattled markets and heightened concerns about a global economic slowdown.