Trump and Xi Move To Resolve Shutdown of ZTE Corp

США и Китаю удастся достичь выгодного соглашения в сфере торговли- Трамп

США и Китаю удастся достичь выгодного соглашения в сфере торговли- Трамп

Ross, U.S. Trade Representative Robert Lighthizer and others were.

In a story May 13 about President Donald Trump's promise to help Chinese telecommunications company ZTE, The Associated Press reported erroneously that Amanda DeBusk is the chair of the worldwide trade department at the law firm Hughes Hubbard & Reed.

Ministry spokesman Lu Kang also said China appreciated tweets by Trump saying he would help ZTE Corp. get "back into business" because too many jobs in China are at stake after the US government cut off access to ZTE's American suppliers.

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast".

When a US delegation led by Treasury Secretary Steve Mnuchin met with officials in Beijing last week, no deal was reached largely because China refused a demand to cut the trade deficit by $200 billion within the next two years. The U.S. accused ZTE of misleading American regulators after it settled charges of violating sanctions against North Korea and Iran. "The more we can work things out, the better it's going to be not just for USA and China, but for the entire world economy", he said. Instead, Trump will likely continue upping the ante - betting on China preferring to come to an agreement rather than risk a trade war.

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The companies are controlled by the Communist Party of China and could be used for operations to compromise USA communications infrastructures, the report said.

But the USA says the Chinese firm breached that agreement, resulting in the current ban, which came as tensions increased between the United States and China on trade. The block on ZTE was a heavy blow for the company but also hurt the US companies it buys from. Officials from Beijing are expected to arrive in D.C. armed with a list of items they will offer to import from the U.S.to meet that goal, The Wall Street Journal reported.

ZTE is known to rely on importing chips from U.S. firms such as Qualcomm and Intel for up to a third of its components.

It is no secret that the US has a huge trade deficit with China.

When US President Donald Trump talks about saving jobs, it is usually American jobs he is making promises about.

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Trump is seeking to cut the chronic USA trade deficit by $100 billion and gain concessions over the policies that foreign companies say force them to share technology in order to gain market access. "But be cool, it will all work out!"

President Donald Trump has stepped into the row surrounding the seven year ban on United States companies supplying Chinese telecommunications maker ZTE with software and components.

Commerce Secretary Wilbur Ross last month accused ZTE of misleading the department and warned, "This egregious behavior can not be ignored".

In 2012 the US House Intelligence Committee had warned that both Huawei and ZTE posed a national security threat and recommended they were banned from the US.

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