U.S. reached deal to keep Chinese telecom ZTE in business: congressional aide

U.S. reached deal to keep Chinese telecom ZTE in business: congressional aide

The House on Thursday voted to cut off Chinese telecommunications company ZTE from US business dealings, putting pressure on the firm and President TrumpDonald John TrumpComey: Trump's "Spygate" claims are made up Trump taps vocal anti-illegal immigration advocate for State Dept's top refugee job Seattle Seahawks player: Trump is "an idiot" for saying protesting National Football League players "shouldn't be in the country" MORE.

The Commerce Department last month blocked China's ZTE from importing American components for seven years, accusing it of misleading US regulators after it last year settled charges of violating sanctions against Iran and North Korea. Trump countered with a fine of $1.5 billion, the management and board swaps, security guarantees and a guarantee that ZTE would buy a large percentage of its parts from US companies, he said. The ban was a virtual death sentence for ZTE, which relies on US parts.

President Trump said Chinese leader Xi Jinping has personally asked him to intervene to help ZTE, and he has said that he would.

In a statement, a White House official said, "This is a law enforcement action being handled by Commerce". "We are making sure ZTE is held accountable for violating USA sanctions, pays a big price and that we are protecting our security infrastructure and U.S.jobs".

The Trump administration has struck a deal to lift a ban on Chinese cellphone maker ZTE, according to multiple reports, potentially putting President Trump on a collision course with Congress.

That bill was approved after the administration signaled it was reconsidering penalties against the company.


The company has lost over $3 billion since the April 15th ban on doing business with USA suppliers, according to a source familiar with the matter.

The plan is already drawing fire from ZTE critics in Congress, further inflaming tensions over trade policy in a week when Republicans blasted the administration for contemplating tariffs on auto imports. It is a great deal. for #ZTE & China. The U.S. government is also concerned that the state-backed company was using its devices to spy on users.

ZTE is one of China's leading manufacturers of telecom equipment.

Chinese officials sought a pullback on ZTE as part of any broader deal to prevent a trade war between the world's two biggest economies. The Trump administration has pushed China to help cut the $376 billion trade surplus with the U.S, with Beijing so far making only vague commitments to buy more US goods, including farm products and energy. United States companies provide up to 30 percent of components used in ZTE's equipment.

As part of the agreements ZTE made previous year it dismissed four senior employees.

A ZTE deal could help with high-stakes talks between the USA and China, which see the steel trade and intellectual property rights under the looming threat of punitive tariffs. Optical component company Oclaro Inc, which received 18 percent of its fiscal 2017 revenue from ZTE, rose 2.7 percent.

Related News:

  • Ottawa rejects takeover of company with Site C contract

    Ottawa rejects takeover of company with Site C contract

    Aecon Group Inc . (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. The Conservatives had been pressing the Trudeau government for a formal national security review of the takeover.
    Amazon banning customers for too many returns

    Amazon banning customers for too many returns

    Khadeeja Safdar, a retail writer for the Wall Street Journal advises customers to be very cognizant of what they are returning. Amazon is banning shoppers from the site for returning too many items, often without informing the customer of the grievance.
    New Privacy Law Makes Europe World’s Leading Tech Watchdog

    New Privacy Law Makes Europe World’s Leading Tech Watchdog

    The European flag flatters in the wind past the headquarters of the European Central Bank in Frankfurt am Main, Germany. Regulators in the USA tried to introduce similar privacy safeguards but were stopped by lawmakers.
  • Doug Ford says he'll release fully costed platform before the election

    Doug Ford says he'll release fully costed platform before the election

    Ford has pledged in recent days to act swiftly if evidence of wrongdoing by candidates surfaced . If re-elected June 7, Liberals plan to increase NOHFC funding to $150 million a year by 2020-21.
    Cheapest gas prices in the Triangle

    Cheapest gas prices in the Triangle

    According to the report , 88 percent of people that will drive will pay the most expensive prices for gas since 2014. DeHaan predicted that the national average could top $ 3 a gallon over the next few days before backing away.
    Harvey Weinstein's alleged victims speak out, now 'have real hope for justice'

    Harvey Weinstein's alleged victims speak out, now 'have real hope for justice'

    Despite reporting the incident to the NYPD immediately, Vance's office declined to file charges after two weeks of investigation. The rape complaint refers to an unidentified woman who accuses Weinstein of raping her in a Manhattan hotel in 2013.
  • Footage & Photos of Cowboys' Terrance Williams' Drunken Arrest Released

    Footage & Photos of Cowboys' Terrance Williams' Drunken Arrest Released

    Williams and Wright played college football together at Baylor, where they caught passes for Heisman Trophy-winning quartberback Robert Griffin III.
    Notley to skip premiers conference to focus on pipeline deal

    Notley to skip premiers conference to focus on pipeline deal

    Notley said Tuesday she was skipping the meeting because her time was better spent in Edmonton making sure the project goes ahead. Federal government representatives have not indicated whether they will support the bill in the House of Commons, Cousineau said.
    Could Hanley Ramirez be on the Twins' radar?

    Could Hanley Ramirez be on the Twins' radar?

    Riley Williams III restored cartilage, and the Red Sox said then he was expected to miss more than the first month of the season. Proclaiming himself fit after offseason left-shoulder surgery, he slashed.330/.400/.474 with three homers in April.
  • Australian grandma sentenced to death for drugs in Malaysia

    Australian grandma sentenced to death for drugs in Malaysia

    BBC News reports the judge had called her "naive", but added that her "feelings of love.[had] overcome everything". Australia's Department of Foreign Affairs said it would continue to provide Exposto "full consular assistance".
    Twitter Reactions: Mohammad Abbas, Hasan Ali trigger England collapse on day 1

    Twitter Reactions: Mohammad Abbas, Hasan Ali trigger England collapse on day 1

    England play a two-match Test series against Pakistan this summer, with the first Test beginning at Lord's on Thursday 24th May. Meanwhile, England paceman Mark Wood admitted the hosts had been outplayed, saying: "It was hard toil from our point of view".
    Lava from Hawaii volcano enters ocean from 3 flows

    Lava from Hawaii volcano enters ocean from 3 flows

    Travis said workers might also try to plug the wells, perhaps by filling them with mud and capping them with iron plugs. He said he has a lung disease and air quality was getting too poor after lava entered the ocean upwind of his home.


Most liked

OPEC steps up crude output to nix price rise
Brent crude futures were down 75 cents at $78.82 a barrel by 0940 GMT, while USA crude CLc1 fell 46 cents to $71.74 a barrel. UBS said prices could keep rallying for several reasons, putting the USA economy at risk of entering a recession.

DHS secretary says she's unaware Russia wanted Trump to win
Nielsen, who was sworn in as Homeland Security secretary in December, indicated Tuesday that she was unaware of that assessment. Mark Warner (D-Va.) sent an email to reporters with several links to the intelligence community's findings.

Terrell Owens on cover of Madden NFL 19 Hall of Fame
Additionally, you get 12 Gold Team Fantasy Packs, one Elite Madden 19 cover athlete (TBA), and two All-Madden Uniforms. It's notable that there is no mention of a story mode returning to Madden after it made its debut a year ago .

Russian oligarch met with Michael Cohen at Trump Tower during transition
Intrater said the meeting included only a brief discussion about relations between the United States and Russian Federation . Trump's inaugural committee secured him tickets to an inaugural dinner, and Vekselberg attended the dinner with him.

Tesla settles class action lawsuit over 'dangerous' Autopilot
Police say data retrieved from the Model S show Lommatzsch did not touch the steering wheel for 80 seconds before the collision. It revealed that she had "manually pressed the vehicle brake pedal fractions of a second prior to the crash".

Polish novelist Olga Tokarczuk wins Man Booker Prize 2018 for Flights
The £50,000 prize will be divided equally between Tokarczuk and her Los Angeles-based translator Jennifer Croft . The Man Booker International Prize celebrates the English translations of works of international literature.

ESPN Adds Fights to UFC TV Rights Deal, Reaching $1.5 Billion Value
There are still more than seven months remaining in the partnership between the UFC and FOX Sports. UFC will maintain control of its pay-per-view cards and continue to limit them to 12 per year.

SpaceX Launches Several Satellites On Falcon 9 Rocket From Vandenberg
When complete, the Iridium Next constellation will include 75 satellites - 66 operational satellites and nine spares. About 10 minutes after liftoff, a separation system on the second stage will deploy the GRACE-FO satellites.

Morgan Freeman dropped by Visa and Vancouver Transit following harassment allegations
TransLink spokesman Chris Bryan confirmed to the Sun that the use of Freeman's voice was part of an ad campaign for Visa. Morgan Freeman is seen making creepy sexual comments to female reports in more unearthed interviews that have surfaced.

SRH vs KKR: Who will win today’s IPL 2018 playoffs game?
Sunrisers Hyderabad vs Kolkata Knight Riders is the 59th of total 60 games to be played in the Indian Premier League season 11. If you have access to the television, then you go for Star Sports tv channels as it's the official broadcaster.

Syria state-run media reports US-led airstrike on army posts
Israel called it its most serious operation in Syria since the 1973 Mideast war. But, a United States official has denied any knowledge of the strikes.

Hyderabad to ensure hospitals well equipped to deal with Nipah virus
Infected people initially develop influenza-like symptoms of fever, headaches, myalgia (muscle pain), vomiting and sore throat. That time, the first infected were pigs that got the virus from fruit bats before transmitting it to pig farmers.

Weinstein accusers Rose McGowan, Asia Argento respond to arrest: ‘We got you’
He sought treatment for sex addiction at a facility in Scottsdale, Arizona, the New York Times reported . Film producer Harvey Weinstein arrives at the 1st Precinct in Manhattan in New York , May 25, 2018 .

Philip Roth Once Torched Donald Trump In The Most Literary Way
Roth, who lived in NY and CT , was best known for mining the Jewish-American experience in his more than 30 novels. Thurman said that after he stopped writing Roth spent his free time reading and swimming, and meeting friends.

Iran nuclear deal 'in intensive care' as signatories meet in Vienna
He asked Europe to "make up for [its] silence" when the U.S. violated the 2015 deal, and to "stand up against the United States sanctions".