ZTE Ceases Operations Due To US Ban, Despite Trump Pledge

15 May, 2018, 22:33 | Author: Edward Snyder
  • Matthias Oesterle via ZUMA

Expanding on Trump's message, White House deputy press secretary Lindsay Walters said in a statement, "The President's tweet underscores the importance of a free, fair, balanced, and mutually beneficial economic, trade and investment relationship between the United States and China".

US President, Donald Trump, on Tuesday said trade negotiations are still underway with China and to "stay tuned".

Referring to Liu's visit, Lu said China was willing to work with the U.S.to "strive for positive and constructive outcomes from the next round of economic and trade discussions".

Liu's trip to Washington follows a visit by Mnuchin and other USA officials to Beijing earlier this month, where they conveyed a demand that China slash its trade surplus with the U.S.by $200 billion by the end of 2020. Washington has proposed imposing tariffs on up to $150 billion in Chinese products. Trump appears willing to negotiate, and just over the weekend announced his intention to help Chinese electronics maker ZTE, which was on the brink of collapse after US imposed penalties on it last month for breaking sanctions against Iran and North Korea.

DeBusk, a former Commerce Department assistant secretary for export enforcement, said Trump's announcement indicates "he is looking to accomplish his objectives on trade with China on a much larger level". They have been making hundreds of billions of dollars a year from the USA, for many years.

This week's meetings follow U.S.

The U.S. flag is seen in the wine section of a supermarket in Beijing, China, April 5, 2018.




In March, Washington introduced a 25 per cent tariff on imported steel and a 10-per cent tariff on imported aluminium.

Branstad, speaking at a conference in Tokyo, said the Chinese appeared "taken back" by the significance of the list.

ZTE had warned last month that the ban on United States firms supplying it with components threatened its very survival.

The financial news headlines have been dominated by articles related to China in recent months.

As part of this, they also entered into an agreement with the U.S. government.

Increasing U.S. exports of liquefied natural gas could also be an area where the two countries could agree, he said.

Despite now ceasing main business operations, China's second biggest telecom equipment maker is still trying to have the ban modified or reversed. "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.

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