Sunday, May 13, 2018

News Alert: In conciliatory move, Trump vows to help Chinese phonemaker ZTE after U.S. crackdown, declaring ‘too many jobs in China lost’

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast," President Trump said in a tweet. "Too many jobs in China lost. Commerce Department has been instructed to get it done!" Trump's comment comes weeks after the Commerce Department penalized ZTE for violating a settlement with the U.S. government over illegal shipments to Iran and North Korea. As a result, the Trump administration barred U.S. firms for seven years from exporting parts to ZTE, the fourth-largest smartphone manufacturer in China, including critical microchips.
 
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News Alert May 13, 11:50 AM
 
 
In conciliatory move, Trump vows to help Chinese phonemaker ZTE after U.S. crackdown, declaring 'too many jobs in China lost'

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast," President Trump said in a tweet. "Too many jobs in China lost. Commerce Department has been instructed to get it done!"

Trump's comment comes weeks after the Commerce Department penalized ZTE for violating a settlement with the U.S. government over illegal shipments to Iran and North Korea. As a result, the Trump administration barred U.S. firms for seven years from exporting parts to ZTE, the fourth-largest smartphone manufacturer in China, including critical microchips.

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