U.S. President Donald Trump agreed on Monday to grant timely licensing decisions to American technology companies seeking to continue selling products to Chinese telecom giant Huawei, the White House said.

The announcement was made after Trump met with chief executives of seven major chip makers and technology companies including Qualcomm, Intel and Google.

"The CEOs expressed strong support of the President's policies, including national security restrictions on United States telecom equipment purchases and sales to Huawei," a White House statement said, adding "They requested timely licensing decisions from the Department of Commerce, and the President agreed."

Also attending the meeting were chief executives of Micron Technology, Western Digital, Cisco Systems and Broadcom.