US president Donald Trump wants to help severely battered Chinese phone company ZTE. Trump wrote on Twitter, working with China's President Xi Jinping on a solution. "The Ministry of Commerce has been instructed to do so," it said furr. Representatives of Chinese and US governments are currently preparing negotiations in Washington.
Too many jobs were lost in China, Trump wrote. However, many U.S. companies such as Qualcomm and Intel have also been suppliers of ZTE interests in American help for company.
President Xi of China, and I, are working toger to give massive Chinese phone company, ZTE, a way to get back into business, almost. Too many jobs in China lost. Commerce Department has been instructed to get it done!— Donald J. Trump (@realDonaldTrump) May 13, 2018
ZTE is second largest Chinese Smartphonehersteller after Huawei and employs around 70,000 employees. The company had to cease operations after U.S. Department of Commerce banned companies from selling components or software to company in April for seven years.
According to Department of Commerce, ZTE had lied to United States about its links with North Korea and Iran. That is why sanction was invoked. ZTE had criticized this as unfair, but admitted a violation of Iran sanctions. The penalty "not only threatens existence of ZTE, but also harms interests of ZTE's business partners, including a large number of US companies," company n shared.
The US and China are currently in a trade conflict. Trump threatened Beijing with tariffs and or trade restrictions of up to 150 billion US dollars.
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