Trump scrambles to save Chinese phone company hurt by his export ban

The firm suspended its main operations after the USA commerce department banned American companies from selling it components for seven years. "Trump may have recognized that backing off on ZTE clears the path for him to claim at least a partial victory in the US-China trade dispute based on the concessions the Chinese seem prepared to offer".

Trump campaigned on restoring manufacturing jobs in the US, not China. Shortly after the president's Tweet, a Democratic lawmaker questioned the move, given the administration's so-called warnings over "ZTE's alleged threat to US national security", reports Reuters.

The U.S. ban has additionally been interpreted as a possible salvo in the burgeoning trade war between the Trump administration and China, and through that lens, the action may have given the U.S. leverage in trade negotiations.

In an April 16th statement, commerce secretary Wilbur Ross said ZTE made false statements to the United States government and "covered up the fact" that the company paid full bonuses to employees that had engaged in illegal conduct.

Similar concerns exist in Australia about Chinese equipment makers, although Fairfax reported today that ZTE is on the shortlist for two Australian telecommunications projects, including Telstra's 5G network and Perth's metropolitan rail comms system.

A few days ago, things were looking bleak for China's smartphone company ZTE. The ban also makes ZTE unable to renew its Android licensing agreement with Google, effectively killing its handset ambitions in every segment of the market.

Vasyl Lomachenko defeats Jorge Linares to Become New WBA Light Champion
Raymundo Beltran (35-7-1, 21 KO's), who won a vacant world title in February is "the obvious opponent" according to Arum. Lomachenko's career is just beginning, and he has much yet to do, but that's the type of path he's on.


Other experts said Trump's policy reversal was unprecedented.

The trade troubles threaten a technology sector that is increasingly intertwined with major players in the United States and China. The punishment resulted in ZTE suspending all major operations, according to a May 10 statement.

"Our intelligence agencies have warned that ZTE technology and phones pose a major cyber security threat", Representative Adam Schiff, a Democrat, said on Twitter.

Trump has repeatedly blasted China for what he calls unfair trade practices. But most people don't know that Beijing has already let it be known that resolving the ZTE issue is one of its demands for striking a broader trade agreement with USA, reports the BBC.

In a separate tweet, he said the two economic giants were "working well together on trade", adding that the two countries are working together to reach a compromise.

(Copyright © 2015. All Rights Reserved.)
 
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