The pressure on Huawei Technologies Co.’s global business is growing as foreign partners back away from the Chinese maker of networking equipment and smartphones in the face of U.S. restrictions.

U.K.-based chip design company Arm Holdings PLC is suspending its business with Huawei following Washington’s blacklisting of the Chinese technology giant, according to a person familiar with the matter. Meanwhile, mobile-phone carriers in Japan and the U.K. have suspended launches of Huawei smartphone models over concerns that U.S. curbs on exports to the company will jeopardize the phones’ performance.

In addition to being among the world’s biggest suppliers of telecom equipment and smartphones, Huawei is one of China’s most-advanced makers of semiconductors. That technology is a national priority for Beijing, but licenses from Arm are crucial to the underlying designs for an array of Huawei-made chips.

A spokeswoman for Arm, which is owned by SoftBank Group Corp. and the Tokyo-based firm’s Vision Fund, declined to comment on the suspension. In a statement, the company said it is “complying with the latest restrictions set forth by the U.S. government and is having ongoing conversations with the appropriate U.S. government agencies to ensure we remain compliant.”

A Huawei spokesman said: “We value our close relationships with our partners, but recognize the pressure some of them are under, as a result of politically motivated decisions. We are confident this regrettable situation can be resolved.”