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The announcement comes amid China's refusal to buy US agricultural goods, which is said to be China's retaliation to the tariffs that Trump announced on remaining imports from China.
On Friday, Huawei also announced its own "Harmony" operating system to power its mobile devices should the US continue to bar the company from using Google's Android operating system.
"We're not going to be doing business with Huawei," President Donald Trump told reporters on Friday, according to Bloomberg.
Trump's announcement will prohibit US agencies and companies from buying Huawei telecoms products, unless the US and China can come to an agreement over trade. Trump said "China wants to do something, but I'm not doing anything yet. 25 years of abuse — I'm not ready so fast."
The US is also reportedly delaying US companies from doing business with Huawei, according to a Bloomberg report.
On Monday, China allowed its currency to devalue against the US dollar, which some are saying is a move in a "currency war." The United States officially labeled China a "currency manipulator" in response.
Huawei announcement on Friday its home-grown Harmony operating system that's designed to power its mobile devices should the company continue to be barred from using Google's Android operating system.
It's been almost three months since the US first announced that Huawei had been placed on an "entity list" in May, which banned US companies form doing business with Huawei. Since then, the status of Huawei's trade blacklist status has been uncertain. In June, Trump contradicted the US Commerce Department's trade blacklist by announcing that US companies could continue to do business with Huawei. Friday's announcement firmly places Huawei back on the trade blacklist.