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Home / Business / Trump says he and Xi Jinping are working to get ZTE back into business

Trump says he and Xi Jinping are working to get ZTE back into business



U.S. President Donald Trump said on Sunday that he would help Chinese technology group ZTE Corp. "get back to business quickly" after he was crippled by a US ban, a concession to Beijing before the high-stakes trade talks this week.

ZTE suspended its main activities after the US Department of Commerce stopped American companies from selling to the company for seven years because ZTE broke an agreement after illegally shipping US goods to Iran.

Trump's Instructions to the Department of Commerce In a tweet, Chinese and US officials come for talks with top Chinese leader Liu He in Washington to resolve an escalating trade dispute between the two largest economies in the world.

Trump's proposed reversal should ease relations between the United States and China. The two largest economies in the world have already proposed tens of thousands of dollars in tariffs in recent weeks, sparking fears of a wholesale trade war that could damage global supply chains and corporate investment.

Earlier in the Beijing Trade Talks This month, China called on the US to stop smashing sanctions on ZTE, one of the world's largest telecom equipment manufacturers, according to people with knowledge of the subject matter.

Trump's reversal could have a significant impact on American optical component companies such as Acacia Communications Inc and Oclaro Inc, whose share prices fell when US companies were denied ZTE export of goods.

ZTE paid more than $ 2.3 billion to 21

1 US exporters in 2017, a leading ZTE representative said on Friday] "Too many jobs have been lost in China and the Ministry of Commerce has been ordered to do it! " Trump wrote on Twitter that he was working on a solution with Chinese President Xi Jinping.

The US Department of Commerce, ZTE, and the Chinese Embassy could not be reached immediately for comment.

The US government launched an investigation against ZTE Following the announcement by Reuters in 2012, the company had signed contracts to send millions of dollars worth of hardware and software from some of the best-known US technology companies to Iran ,

ZTE pleaded guilty last year to violating US sanctions by illegally shipping US goods and technology to Iran, and entered into an agreement with the US government. The ban is the result of ZTE's failure to comply with this agreement, said the Commerce Department.

The ban came two months after two Republican senators introduced laws to ban the US government from buying or leasing telecommunications equipment from ZTE or Huawei. Companies would use their access to spy on US officials.

Without naming the companies or countries, the chairman of the Federal Communications Commission Ajit Pai recently said "hidden" backdoors to our networks in routers, switches and other network devices enemy foreign powers inject viruses and other malware, steal private data from Americans , spy on US companies and more. "

ZTE relies on US companies such as Qualcomm Inc, Intel Corp, and Google of Alphabet Inc. American companies provide an estimated 25 to 30 percent of the components used in ZTE devices, including smart phones and telecommunications network equipment." 19659014]
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