Perhaps a source would be good. I have found
ARM is the latest partner to shun Huawei, so how will it design chips?
This looks like an overreaction from ARM, maybe thinking that the executive order is a ban on all Huawei products. The order gives the Secretary of Commerce the power to ban telecom products from a company because of "national security risks". There may never be a ban an any Huawei product. Any ban would probably be not be on smartphones since it is a stretch to define them as telecom technology.
On the other hand, read the vagueness in
Executive Order on Securing the Information and Communications Technology and Services Supply Chain
Does this include TV remote devices which transmit data by electronic means

? What about PCs that transmit data by electronic means even when not connected to the internet? Home WiFi devices? Hard drives?
If Huawei write a word processing program could that be banned? What about a messaging app?
Just about every electronic device today transmits or stores or displays data electronically, e.g.
Internet of things. Ditto for software.
The other half of the vagueness equation is whether the product "poses an unacceptable risk to the national security of the United States or the security and safety of United States persons". Taken to an absurd limit: if Trump decides his made in China iPhone was insecure, could they be banned?
A reasonable interpretation for a federal executive order would be software or hardware involved in national scale transmission, storage, and display of electronic data which is has known security risks across the nation to make the risk unacceptable. That seems to be what the news articles are about - telecoms technology. Whether the Trump administration will simply declare the risk unacceptable because it is Huawei remains to be seen.