Tuesday, 13 November, 2018

Trump seeks to save Chinese jobs at ZTE ahead of trade talks

US Bans American Companies From Selling to China's ZTE President Trump just saved embattled Chinese phone maker ZTE
Ginger Lawrence | 14 May, 2018, 05:51

Chinese President Xi Jinping has been said to be considering reprisals for the actions taken against both Huawei and ZTE, but until now there'd been no public confirmation of such.

U.S. commentators say the tone of the tweet is a dramatic shift for Mr Trump, who has consistently accused China of stealing USA jobs. Before you could blink, though, ZTE found itself at odds with USA officials, first over alleged ties to the Chinese government and later for its part in selling telecom equipment to Iran and North Korea.

We will remind, the President of the United States Donald trump said that he was going to impose duties on imports from China and restrict Chinese investment.

Last week ZTE announced that its major operations had "ceased" after the Trump administration banned American entities from selling critical technology to the company for seven years.

He added that he instructed the U.S. Commerce Department "to get it done!"

American companies are estimated to provide 25 percent to 30 percent of components in ZTE's equipment, which includes smartphones and gear to build telecommunications networks.

Easing tensions with China But an even bigger worry for Trump is the looming trade war brewing between China and the U.S. White House spokeswoman Lindsay Walters confirmed today that U.S. officials are in contact with Beijing about ZTE.

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A USA blockade has choked off the revenue of the No. 2 Chinese telecom company, which regards the next two weeks as crucial as it faces potential collapse.

In response, ZTE said in a statement that "t$3 he Denial Order will not only severely impact the survival and development of ZTE, but will also cause damages to all partners of ZTE including a large number of USA companies".

At the time, the company said it was still assessing the impact of being placed on the Commerce Department's blacklist.

ZTE depended on American chips and other components, and is unable to continue operating without key supplies.

ZTE has asked the department to suspend the seven-year ban on doing business with U.S. technology exporters.

He returned to the topic more than five hours later by blasting past trade agreements between the two countries.

Without access to such technology, the company has been forced to partially shut down. "This egregious behavior can not be ignored". "Given his pressure on Beijing on trade, I don't understand the concern for Chinese jobs", says technology and security expert Adam Segal.