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Thread: US Steel & Aluminum Tariffs

  1. #121
    Former Staff Senior Contributor Ironduke's Avatar
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    Full article: http://www.bbc.com/news/business-44103081
    Trump seeks to save Chinese jobs at ZTE ahead of trade talks

    US President Donald Trump has said he wants to help save ZTE, one of China's biggest telecoms companies.

    The firm has suspended operations after the commerce department last month banned US companies from selling it components for seven years.

    ZTE pleaded guilty to making illegal shipments to Iran and North Korea.

    Mr Trump tweeted that he was working with President Xi to ensure ZTE would get back into business fast, saying too many jobs in China were at risk.

    US commentators say the tone of the tweet is a dramatic shift for Mr Trump, who has consistently accused China of stealing US jobs.

    The concession to Beijing comes ahead of high-level trade talks later this week in Washington aimed at resolving an escalating trade dispute between the world's two largest economies.

    Beijing has made resolving the situation with ZTE, which employs about 80,000 people, one of its demands for striking a broader trade agreement with with US.

    In March 2017 ZTE admitted to violating US sanctions by illegally shipping American technology to Iran and Korea and was fined $1.1bn (800m).

    The current export ban was imposed last month after the company allegedly failed to comply with its agreement, lying about the punishment of employees involved in skirting the sanctions.
    Appearances can be... deceptive. -Chad Feldheimer

  2. #122
    Senior Contributor DOR's Avatar
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    Quote Originally Posted by Ironduke View Post
    The Trumpet really cares for the common man!
    Trust me?
    I'm an economist!

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