Posted on 05/25/2018 4:48:43 PM PDT by Zhang Fei
President Trump told Fox News on Friday he has struck a deal with Chinese President Xi Jinping to ease U.S. sanctions imposed on Chinese telecommunications giant ZTE.
The Commerce Department last month blocked China's ZTE from importing American components for seven years, accusing it of misleading U.S. regulators after it last year settled charges of violating sanctions against Iran and North Korea. The ban was a virtual death sentence for ZTE, which relies on U.S. parts.
The Trump administration, though, caused controversy by putting ZTE in play amid trade negotiations.
According to Trump, Xi recently called him to ask if there was something he could do to put the company back in business. Trump asked Xi what he was prepared to do, the president said -- and Xi replied that he was willing to have ZTE pay a fine of $500 million dollars for the embargo violations, change the management and replace the board. 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 U.S. companies, he said.
After further negotiations, they settled at a $1.3 billion fine, according to the president.
Trump told Fox News his handling of ZTE shows that he is prepared to be tough on China and Chinese companies when they misbehave.
“ZTE – I shut it down,” Trump told Fox News. “Obama didn’t punish ZTE. I shut it down.”
Trump said Xi told him tens of thousands of people would lose their jobs if the U.S. continued to refuse to sell parts to ZTE. Xi told Trump many of those jobs were in his hometown.
The Commerce Department also informed officials on Capitol Hill on Friday that a deal has been reached.
(Excerpt) Read more at foxnews.com ...
Um, winning ? Well ok, I trust the d-man
Winning....again....I’m so tired...NOT
Definitely winning. Awesomely winning.
Absolutely amazing. What would he already accomplished if he were not fighting these horse flies that dog him?
The never trumpers will find something to hate about it.
Trump gave the Naval Acadamy graduation ceremony speech today. After they speech he stayed to shake the hand of every graduate - some 1,100!
No! ZTE is a threat to national security and it is a violator of the Iran sanctions. No deal. Let American companies have that market share.
Go take your meds.
Yep - winning big time.
Downpayment on wall...now crack down on Chinese grad students stealing technology and taking our intellectual property and knowledge back to China
ZTE is a threat to national security and it has violated the sanctions on both North Korea and Iran. And it takes jobs from Americans.
Besides, China is an enemy bent on destroying us or controlling us. Let’s use the Reagan strategy and choke their economy.
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