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USA, China Discussion Deal on ZTE, Agricultural Tariffs



The US and China agree to an agreement that China's ZTE Corp. A delay of possibly paralyzing US sanctions would, in return for the abolition of tariffs on billions of dollars of agricultural products in Beijing, the people in both countries said deal

The negotiations would also facilitate roadblocks in China, before which one US semiconductor company stands

Qualcomm
Inc.,

whose planned acquisition of

NXP Semiconductors

NV of the Netherlands was stopped by Beijing. China's Ministry of Commerce has agreed to resume its review of the acquisition immediately, said a person close to the agency. The ministry has stopped a number of multi-billion dollar cross-border deals with US companies in recent months.

ZTE is a Shenzhen-based manufacturer of telecommunications equipment that has been hampered by a ban on component sales in the US

A deal is underway and could break apart if discussions continue, especially as the US side is keen on dealing with China is. On Sunday, President

Donald Trump

said in a tweet that he works with the Chinese president

Xi Jinping

ZTE "getting a chance to get back to business quickly too many jobs lost in China." He said the Commerce Department had been instructed to "make it!"

The tweet has many in Mr. Trump's inner circle Surprised, said people who were involved in the discussions, and had not preceded it are interinstitutional discussions on politics. Finance

Steven Mnuchin,

who recently held talks with Chinese government officials in Washington, was the main player in the negotiations on ZTE deals, people who were involved in US talks with China said.

Please contact Lingling Wei at lingling.wei@wsj.com and Bob Davis at bob.davis@wsj.com


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