In a concession, Trump will help China's ZTE 'get back into business
In a concession, Trump will help China's ZTE 'get back into business'. U.S. President Donald Trump pledged on Sunday to help ZTE Corp “get back into the business, fast” after a U.S. ban crippled the Chinese technology company, offering a job-saving concession to Beijing ahead of high-stakes trade talks this week.
ZTE suspended its main operations after the U.S. Commerce Department banned American companies from selling to the firm for seven years as punishment for ZTE breaking an agreement reached after it was caught illegally shipping U.S. goods to Iran. Read more here.
Sources briefed on the matter said Beijing had demanded the ZTE issue be resolved as a prerequisite for broader trade negotiations.
The U.S. Commerce Department last month banned American companies from selling to the firm for seven years as punishment for ZTE breaking a 2017 agreement after it was caught illegally shipping U.S. goods to Iran and North Korea, an investigation dating to the Obama administration.
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