The Trump administration on Monday issued a new 90-day extension allowing U.S. companies to continue doing business with China's Huawei Technologies as U.S. regulators continue crafting rules on telecommunications firms, Reuters reported.

"The Temporary General License extension will allow carriers to continue to service customers in some of the most remote areas of the United States who would otherwise be left in the dark," U.S. Commerce Secretary Wilbur Ross said in a statement.

He told Fox Business Network on Friday that some rural carriers need the temporary licenses and depend on Huawei for 3G and 4G networks. "There are enough problems with telephone service in the rural communities - we don't want to knock them out."

This marks the third reprieve after the U.S. Department of Commerce added Huawei to a blacklist in May that bans the company and its 70 affiliates from buying technology and components from American firms without U.S. government approval.

Huawei's chairman Liang Hua said on Monday the extension "won't have a substantial impact on Huawei's business either way. This decision does not change the fact that Huawei continues to be treated unfairly either." The statement was made in the CNBC East Tech West conference held in Guangzhou, south China.

In a statement available to the press, Huawei said that the blacklist has already disrupted collaboration of Huawei and U.S. companies, undermining mutual trust on which the global supply chain depends.

The blacklist is also affecting American companies that do business with Huawei. On November 3, Wilbur told Bloomberg that they received 260 requests for licenses from U.S. companies to grant individual licenses to sell components to Huawei.

"That's a lot of applications – it's frankly more than we would've thought," but he also noted that licenses "will be forthcoming very shortly, 'quite a few' would soon be granted."

Read more: Mixed signals – Huawei and the U.S.

As part of the U.S. sanctions on Huawei, Google has been forced to stop offering its apps to future Huawei smartphones. But Google has sought to continue doing business with Huawei and has warned the Trump administration that it risks compromising national security if it moves ahead with a sweeping ban on the Chinese company, the Financial Times reported this July.

Google's senior executives are lobbying U.S. officials to exempt it from an order that bans American companies from supplying software and components to the Chinese telecom giant, it said.

It said that Huawei's Mate 30 smartphone series are among the first types of gadgets banned from using U.S. software like the Google Play Store. But in CGTN's latest report--You can still install Google Apps on Huawei Mate 30, the Digital team tried one of the methods found online and installed an app. It turned out it worked, though the process can be tricky for users unfamiliar with software.

Markets edge higher

The new 90-day extension allowing U.S. companies to do business with Huawei eased some of the investor's angst over the China-U.S. trade tensions.

The three major U.S. stock indexes set fresh intraday highs while MSCI's gauge of equity performance worldwide rose to within one percent of a record peak set in January 2018.

Global equity markets edged higher on Monday. As of 2150 GMT, Dow and S&P 500 went up 0.1 percent. The Nikkei index went up by 0.5 percent. Shanghai Composite Index went up 0.6 percent, while Hang Seng index was up by 1.4 percent.