Reuters reports, citing the US commerce department

Adding that the US is amending the foreign product rule to "strategically target Huawei's acquisition" of semiconductors.

The report also says that the commerce department has extended Huawei's temporary general license to do business with some US companies for another 90 days through 13 August but warns that "this will be the final 90-day extension".

Once again, the move here comes on the back of the pretext to ensure 'national security' but it'll definitely be a blow to Huawei in trying to acquire semiconductors and chips for usage in its production of smartphones and telco equipments.

In the big picture, this is just another chapter in the escalating tensions between US and China as of late - which has been taking a turn for the worse in recent weeks.