Trump admin. briefs Congress on tentative deal with China's ZTE

Trump admin. briefs Congress on tentative deal with China's ZTE

Reuters reported early last week that a proposed trade deal with China would lift the ZTE ban.

The ongoing saga between Chinese smartphone manufacturer ZTE and the United States government has a new development.

Mr Trump took a jab at Democrats in his tweet, saying that Senate Minority Leader Chuck Schumer and former president Barack Obama "let phone company ZTE flourish with no security checks".

When ZTE complies with the order, the US Commerce Department will lift an order issued in April preventing the Chinese firm from buying US products.

On Friday, Trump announced that ZTE would be allowed to continue business after paying a $1.3 billion fine, a deal that both Democrats and Republicans in Congress oppose. Many hoped this time would be different. Chris Van Hollen, D-Md. In a tweet on 26 May, Trump said: "I closed it down then let it reopen with high level security guarantees, change of management and board, must purchase United States parts and pay a Dollars 1.3 billion fine".

Trump also has said that efforts to help ZTE are meant to be part of broader trade negotiations between the United States and China, which have sputtered in recent weeks as China has resisted USA demands. As reported by The New York Times, a bill by the House of Representatives and an amendment by the Senate Banking Committee have been approved to prevent the US government from lifting the restrictions imposed on ZTE. "Now congress will need to act". Ltd. from operating in the U.S. He said their equipment could be used to help China spy on the U.S. and steal corporate secrets. "If President Trump won't put our security before Chinese jobs, Congress will act on a bipartisan basis to stop him", said Maryland Democratic Sen.

At the time, Mr. Trump insisted there wasn't a deal but said he "envisioned" a deal involving a big fine and other conditions.

The administration's push to reach an agreement on ZTE has been a major piece of its trade negotiations with China, which are expected to pick up in earnest when Ross heads to China June 2 through June 4.

Trump has negotiated a $1.3 billion fine with the Chinese President over a phone call, as per Fox News.

The firm needs USA components for its mobile phones and network equipment. Resolving the ZTE case - a company that employs more than 70,000 Chinese - could make the talks go more smoothly.

Commerce Secretary Wilbur Ross is scheduled to travel to Beijing on June 2 for further discussions over China's aggressive push to challenge US technological dominance.

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