Thursday, 16 August, 2018

Trump, Xi throw ZTE some lifeline

US Bans American Companies From Selling to China's ZTE The US and China will be able to reach advantageous agreements in the sphere of trade – trump
Jan Cook | 14 May, 2018, 06:08

While the U.S. and China have threatened each other with trade tariffs, Trump has insisted that relations between Washington and Beijing have never been better and he has been working closely with Xi in efforts to persuade North Korea to abandon its nuclear program.

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..."

Trump campaigned on restoring manufacturing jobs in the United States of America, not China.

The department last month banned shipments of USA technology to ZTE for seven years, saying the company had failed to reprimand employees who violated US trade controls on Iran and North Korea.

In trade talks in Beijing this month, China asked the United States to ease crushing sanctions on ZTE, one of the world's largest telecommunications equipment makers, according to people with knowledge of the matter. But now, barred from using US microchips, software and other components, ZTE has been facing the prospect of being unable to manufacture its telecommunications equipment and smartphones. In a later tweet, Trump suggested the US and China were moving forward on the trade negotiations but it was not clear how the ZTE case would fit into the bigger picture.

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Robinson Cano left Seattle's game at Detroit in the third inning Sunday with a broken right hand after being hit by a pitch . After a brief examination by the Seattle trainer, Cano left the game and was replaced by infielder Andrew Romine .

"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".

For critics worrying about a trade war between Washington and Beijing, the president added a bit of advice - "But be cool, it will all work out!" Those penalties prevented U.S. companies selling to the Chinese concern, which is a bit of a show-stopper as ZTE is reliant on USA companies for all manner of parts - Qualcomm for smartphone CPUs is the tip of the iceberg. "This egregious behavior can not be ignored". The Trump administration has taken a hard line on what it says are unfair trade practices by the Chinese government, proposing about $50 billion worth of tariffs on products and technology that advance Beijing's industrial development goals.

In April, he said: "For many years, no president wanted to go against China economically, and we're going to do it". The President now seemingly has the upper hand at the negotiating table with the Chinese government; the U.S. can now effectively decide the future of the business.

"That move in effect put ZTE out of business, and the company announced on Friday it had halted operations because of the seven-year ban. Commerce Department has been instructed to get it done!" "You should care more about our national security than Chinese jobs", Schiff said in a tweet directed at Trump.

It looks like ZTE may get a reprieve.

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