Trump says he wants the Commerce Department to lift ZTE's export ban

Trump says he wants the Commerce Department to lift ZTE's export ban

The company admitted earlier this week that it had ended its "major" business operations, due to a hardware supply ban placed on it by the U.S.

President Trump surprised the business world Sunday by saying Washington would help keep the Chinese telecommunications giant ZTE alive-right after USA sanctions had crippled it, the New York Times reports.

Reports suggested that the Chinese government was working on ZTE's half to find a compromise, and it looks like Chinese Premier Xi Jinping himself got in touch with the U.S. President, who said today in a tweet that is he "working... to give..."

Mr Trump tweeted he was dealing with President Xi to make certain ZTE would become in business rapid, mentioning way too many projects at China ended up at an increased risk. Commerce Department has been instructed to get it done!

As a presidential candidate, Donald Trump said in 2015: "China, taking our jobs, taking our money". Commerce office has been educated to get it all done!

Last week, the company said that its earnings have surged, reporting a 39 percent jump in net income for the first quarter.

"As a result of the conspiracy, ZTE was able to obtain hundreds of millions of dollars in contracts with and sales from Iranian entities to ship routers, microprocessors, and servers controlled under the Regulations for national security, encryption, regional security, and/or anti-terrorism reasons to Iran", Richard R. Majauskas, acting assistant secretary of commerce for export enforcement, wrote in an April 15 letter to ZTE.

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Even the concession into Beijing happens ahead of high tech commerce discussions later this week at Washington aimed in resolving an escalating trade dispute involving the world's two largest economies.

Lewis said the technology trade tensions stem from genuine concerns in Washington that critical 5G and related telecom technologies will be dominated by China-based Huawei.

It would appear that the situation surrounding ZTE just got a lot more interesting, and its likely to take some more twists and turns before it is all over.

The company incited a seven-year moratorium on purchases from USA suppliers for violating a 2017 sanctions settlement and then lying about it. ZTE's smartphones used Google's Android operating system.

Recently, though, the Trump administration also has sought to limit the encroachment of Chinese telecommunications firms in the United States. USA intelligence assesses that both companies could use their phones to spy remotely for the Chinese government (both ZTE and Huawei have denied these claims in the past).

The prospective shutdown of ZTE has been seen as major leverage in continuing trade discussions between China and the United States over Chinese trade practices.

Adam Schiff, a Democratic congressman from California, responded to Trump's tweet Sunday, saying he "should care more about our national security than Chinese jobs". China had a trade surplus of $375 billion with the US previous year. Though both companies denied the allegations, in February of this year top USA intelligence officials told the Senate Intelligence Committee that they had "deep concerns" about security risks posed by phones from the two Chinese companies and other firms which the officials described as "beholden to foreign governments".

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