The Huawei logo is seen on the side of the main building at the company's production campus on April 25, 2019 in Dongguan, near Shenzhen, China.

As the U.S. and China fight over trade, one key party is getting caught in the middle: Big technology companies.

The Chinese government reportedly summoned major technology companies this week, including notable semiconductor firms, according to a new report from The New York Times. The purpose was to warn them that they will face dire consequences if they comply with the Trump administration's efforts to ban sales of American technology to Chinese companies.

That comes after the Trump administration cut off the Chinese electronics company Huawei from sales of American technology. That ban, which happened last month, could interfere with China's long-term technology plans, the Times reported.

News that the U.S. was blacklisting Huawei triggered a big sell-off in chipmaker stocks last month. Huawei purchases about $20 billion of semiconductors each year, according to estimates from Evercore. Losing those sales would hurt U.S. chip suppliers.