Report: US, ZTE Sign Deal to Get Chinese Firm Operating Again

3 years ago tajikistannewsgazette.com Comments Off on Report: US, ZTE Sign Deal to Get Chinese Firm Operating Again

Chinese telecommunications firm ZTE has signed a deal with the United States that lets the crippled company get back in business, Reuters reports.

ZTE was almost totally shut down after the Trump administration cut off exports of U.S. made parts to the company. It was, in the words of one expert, caught red-handed putting the U.S. technology into products and selling them to countries under U.S. trade embargoes, including Iran and North Korea.

ZTE depends on U.S. parts for wireless stations, optical fiber networks and smartphones.

According to Reuters, the deal to get ZTE operating again included a $1 billion fine, regular inspections of its plants and the replacement of its team of executives.

Neither ZTE nor the U.S. Commerce Department has confirmed that any definitive deal was signed.

But the reports already have U.S. lawmakers angry that the Trump administration is willing to let ZTE resume using U.S.-made components

If these reports are accurate, this is a huge mistake, Virginia Democrat Mark Warner of the Senate Intelligence Committee said. ZTE poses a threat to our national security. That's not just my opinion � it's the unanimous conclusion of our intelligence community.

Democratic Minority Leader Chuck Schumer of New York called President Donald Trump someone who roared like a lion and is governing like a lamb when it comes to China and letting ZTE off the hook.

Republican Senator Marco Rubio of Florida has also called ZTE a security risk and said a bill to block the U.S. from doing business with it would have huge support in Congress.

Trump said last month he was looking for a way to let ZTE get back into business fast.

Too many jobs in China lost, Trump tweeted as he ordered the Commerce Department to get it done!

Trump has often complained about China stealing U.S. jobs and having a huge trade deficit with the U.S. His tweets in support of China and ZTE perplexed Congress and many economic experts.

But the White House has said Trump's tweets underscore the importance of a free, fair, balanced and mutually beneficial economic trade and investment relationship between the United States and China.

Source: Voice of America

Related Posts

Russian First Deputy Prime Minister Shuvalov to visit Dushanbe today

tajikistannewsgazette.com 4 years ago
DUSHANBE, 26.01.2017. /NIAT Khovar/. The First Deputy Prime Minister of the Russian Federation Mr. Igor Shuvalov will arrive today in Dushanbe on a two-day visit, MFA Information Department reports.According... Read More

Putting An End To 20 Years Of Death Along The Tajik-Uzbek Border

tajikistannewsgazette.com 2 years ago
There was more good news in Tajik-Uzbek relations on October 6, when the head of the Tajik president's Center for Strategic Research, Hudoyberdy Holiqnazar, announced demining work had started... Read More

Donald Trump quickly taken from briefing room after shooting near the White House

Web Desk 5 months ago
Trump reportedly returned to the briefing room minutes later, confirming a shooting.   “There was a shooting outside of the White House and it seems to be very well... Read More

Russia’s CCI asks authorities to allow immigrants to enter Russia with their families

Web Desk 1 month ago
Head of the Chamber of Commerce and Industry (CCI) of the Russian Federation, Sergey Katyrin, has sent a letter to Prime Minister Mikhail Mishustin proposing to simplify the entry... Read More

Report: US, ZTE Sign Deal to Get Chinese Firm Operating Again

3 years ago tajikistannewsgazette.com Comments Off on Report: US, ZTE Sign Deal to Get Chinese Firm Operating Again

Chinese telecommunications firm ZTE has signed a deal with the United States that lets the crippled company get back in business, Reuters reports.

ZTE was almost totally shut down after the Trump administration cut off exports of U.S. made parts to the company. It was, in the words of one expert, caught red-handed putting the U.S. technology into products and selling them to countries under U.S. trade embargoes, including Iran and North Korea.

ZTE depends on U.S. parts for wireless stations, optical fiber networks and smartphones.

According to Reuters, the deal to get ZTE operating again included a $1 billion fine, regular inspections of its plants and the replacement of its team of executives.

Neither ZTE nor the U.S. Commerce Department has confirmed that any definitive deal was signed.

But the reports already have U.S. lawmakers angry that the Trump administration is willing to let ZTE resume using U.S.-made components

If these reports are accurate, this is a huge mistake, Virginia Democrat Mark Warner of the Senate Intelligence Committee said. ZTE poses a threat to our national security. That's not just my opinion � it's the unanimous conclusion of our intelligence community.

Democratic Minority Leader Chuck Schumer of New York called President Donald Trump someone who roared like a lion and is governing like a lamb when it comes to China and letting ZTE off the hook.

Republican Senator Marco Rubio of Florida has also called ZTE a security risk and said a bill to block the U.S. from doing business with it would have huge support in Congress.

Trump said last month he was looking for a way to let ZTE get back into business fast.

Too many jobs in China lost, Trump tweeted as he ordered the Commerce Department to get it done!

Trump has often complained about China stealing U.S. jobs and having a huge trade deficit with the U.S. His tweets in support of China and ZTE perplexed Congress and many economic experts.

But the White House has said Trump's tweets underscore the importance of a free, fair, balanced and mutually beneficial economic trade and investment relationship between the United States and China.

Source: Voice of America

Related Posts

Meeting with the Chief Executive of the Islamic Republic of Afghanistan Dr. Abdullah Abdullah

tajikistannewsgazette.com 3 years ago
The Founder of Peace and National Unity � Leader of the Nation, President of the Republic of Tajikistan Emomali Rahmon held talks with the Chief Executive of the Islamic... Read More

The younger generation on behalf of the Leader of the Nation were given ice cream and sweets

tajikistannewsgazette.com 4 years ago
At the initiative of the Ministry of Internal Affairs and the Committee on Youth, Sports and Tourism under the Government of the Republic of Tajikistan, in October 1,... Read More

Uzbekistan’s Deputy PM Ulugbek Rozuqulov arrives in Dushanbe

tajikistannewsgazette.com 4 years ago
DUSHANBE, 20.06.2017. /NIAT Khovar/. The delegation of the Republic of Uzbekistan led by Ulugbek Rozuqulov, Deputy Prime Minister of this country has arrived in Dushanbe, the Republic of Tajikistan.At... Read More

Meeting of the Deputy Minister of Foreign Affairs with the delegation of CGSS

tajikistannewsgazette.com 2 years ago
On August 27, 2018 Deputy Minister of Foreign Affairs of the Republic of Tajikistan Muzaffar Huseinzoda received delegation of the Center for Global & Strategic Studies of the Islamic... Read More