Illustration: Sarah Grillo/Axios

The Trump administration is weighing new trade restrictions that could force factories across the globe to obtain licenses if they want to use U.S. equipment to make chips for Huawei products, the Wall Street Journal reports.

Why it matters: The restrictions "risk disrupting the global supply chain for semiconductors and dent growth for many U.S. companies," the WSJ reports, citing unnamed U.S. industry participants. One goal of the proposed restrictions is for China to see the action as a threat, per the WSJ.

Driving the news: House Speaker Nancy Pelosi on Sunday cautioned U.S. allies against allowing Huawei to develop their 5G networks, in the latest addition to the U.S. pressure campaign on the telecommunications giant.

Where it stands: The Commerce Department's proposed restrictions were only recently proposed after weeks of discussion, WSJ reports, and "not everyone within the administration supports the idea."

Go deeper: Huawei equipment has secret "back doors," U.S. officials claim

Editor's note: This article has been corrected to clarify that the rules cover firms making chips for Huawei products (not Huawei chips).

Go deeper

Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 33,137,748 — Total deaths: 998,372 — Total recoveries: 22,952,164Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 7,116,456 — Total deaths: 204,762 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. States: 3 states set single-day coronavirus case records last week
  4. Health: The childless vaccine. The long-term pain of the mental health pandemic
  5. World: India the second country after U.S. to hit 6 million cases
Dion Rabouin, author of Markets
40 mins ago - Economy & Business

Big Tech's share of the S&P 500 reached record level in August

Expand chart
Reproduced from The Leuthold Group; Chart: Axios Visuals

The gap between the weighting of the five largest companies in the S&P 500 and the 300 smallest rose to the highest ever at the end of August, according to data from the Leuthold Group.

Why it matters: The concentration of wealth in a few massive U.S. tech companies has reached a scale significantly greater than it was before the dot-com bubble burst.

Fortune 100 companies commit $3.3 billion to fight racism and inequality

Data: Fortune 500, Axios analysis of company statements, get the data; Chart: Andrew Witherspoon, Naema Ahmed/Axios

Big businesses continue to push funding toward fighting inequality and racism, with the 100 largest U.S. companies' monetary commitments rising to $3.33 billion since the death of George Floyd at the hands of Minneapolis police earlier this year, according to an Axios analysis.

Why it matters: The continued pace of funding commitments shows that months after Floyd's death there remains pressure for the wealthiest corporations to put their money behind social issues and efforts.