While officially the meeting's agenda notes a series of topics, including what the aforementioned source describes as "economic matters", the restrictions against Huawei will also be discussed, especially as several have warned that the U.S. industry itself could be affected. Other companies that may expect invitations are Microsoft and Broadcom.
"A ban would be catastrophic in the short term for businesses and it would also lead to increased unemployment, which would generate more immigration", Medina, told Al Jazeera.
Trump has put Huawei on its so-called entity list, which meant U.S. companies needed a license to supply USA technology to the Chinese firm. It was said by Mr. Trump that Mr.Mnuchin had a very well talk with his Chinese mate, also between signals from China that the officials could very soon have a face to face meeting to end the year-long trade dispute.
Why is a quick decision important?
That ban prevented many big tech companies, like Google, from doing business with Huawei without getting a government waiver. Instead, it said the two governments "continue to make important progress on a comprehensive regional approach to addressing irregular migration patterns", citing joint efforts "to reduce the flow of irregular migration and ensure the safety and protection of vulnerable populations, especially children". Google supports Huawei's smartphones with its Android operating system.
British PM Theresa May calls emergency meet on Iran tanker seizure
The Iranian flag flutters in front the International Atomic Energy Agency (IAEA) headquarters in Vienna, Austria July 10, 2019. Tehran claimed the individuals had received "sophisticated training" and been promised United States visas or jobs in the US.
Shortly after Trump had met with Chinese President Xi Jinping at the sidelines of the G20 summit in Osaka, Japan last month, the Trump administration promises to ease restrictions on Huawei with the issuance of trade licenses to select companies.
Clarity on what the new policy towards Huawei will be has been slow to emerge. The Trump administration in May sanctioned Huawei, which it has deemed a threat to national security, and curbed sales of U.S. equipment to the Chinese company.
Chinese companies, meanwhile, have begun asking USA exporters about buying agricultural products and also applied for exemptions from China's retaliatory tariffs on the goods, state-run Xinhua News Agency reported Sunday.
Huawei is embroiled in a trade dispute between China and the US.
A spokesman for the Commerce Department, which oversaw the blacklisting of Huawei in May, declined to comment.
Executives from Google, Intel and Micron were among those invited.