In an interview with The Associated Press, he also expressed confidence the company will thrive because it is developing its own technology. He also said that 46 Huawei affiliates have been added to the Entity List, raising the total to over 100 Huawei entities covered by the ban.
Now the internal estimates show the sale of smartphones in 2019 will be 60 million fewer than it would have done without the USA sanctions.
Trump's recent rhetoric toward Huawei has shifted toward a more hostile stance.
Here's a look at what's behind the dispute and what it means.
Huawei, China's largest technology company by sales, has been at the heart of worsening tensions and been called a bargaining chip in thorny trade negotiations between Washington and Beijing. About a third of Huawei's suppliers are American.
But according to a new report from Bloomberg, Huawei now expects to sell 60 million fewer smartphones this year than it would have without USA sanctions.
Analysts have attributed the loss of worldwide market share to Google's restriction on Huawei's access to its Android operating system and apps. Without those services, smartphone makers such as Samsung would have the advantage. U.S. media outlets, including The Wall Street Journal, had revealed earlier that the Department of Commerce was considering extending the reprieve given to Huawei for another 90 days.
Huawei has been given another 90-day reprieve that allows the Chinese telecommunications equipment giant to purchase components from United States companies to supply existing customers, the US Department of Commerce announced on Monday.
Huawei has been blacklisted by the U.S., whose government claims its 5G technology could be abused by the Chinese government and used for espionage, something the company denies.
Other exports to Huawei officially remain restricted, though practice differs. But this hasn't given enough time to some US companies thus, extending the ban to another 90-days expiring November 19th, 2019.
As TechRadar reports, several American tech firms have been lobbying the United States government to change its approach, as USA companies will lose significant revenue streams that relied on supplying Huawei.
The biggest casualty of Huawei's U.S curbs has been the lost traction in the global smartphone market.
Adam Segal, director of cyberspace policy at the Council on Foreign Relations, said that probably reflected additional research to identify the full scope of Huawei purchasing globally. "It's clear that this decision, made at this particular time, is politically motivated and has nothing to do with national security", the company said.
China already has a policy seeking technological independence by 2025.
Huawei isn't alone in doubting the sincerity of the administration's rationale for the ban. These two operating systems obviously power Huawei smartphones, tablets, and PCs.
Want to know more about 5G? Half of the newly listed affiliates are based outside China. The company said the extension "won't have a substantial impact on Huawei's business either way". Huawei was aiming to leverage its strength in 5G technology.