U.S. reached deal to keep Chinese telecom ZTE in business: congressional aide

[Eugene]

Source: Reuters

WASHINGTON (Reuters) - The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business, a senior congressional aide said on Friday.

The deal, communicated to officials on Capitol Hill by the Commerce Department, requires ZTE to pay a substantial fine, place American compliance officers at the company and change its management team, the aide said. The Commerce Department would then lift an order preventing ZTE from buying U.S. products.

In April, ZTE was banned from buying American technology components for seven years for breaking an agreement reached after it violated U.S. sanctions against Iran and North Korea. The Commerce Department decision would allow it to resume business with U.S. companies, including Qualcomm Inc, the chipmaker that is a ZTE supplier.

U.S. President Donald Trump on Tuesday floated a plan to fine ZTE up to $1.3 billion and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.

-snip-

BUSINESS NEWS MAY 25, 2018 / 12:50 PM / UPDATED 33 MINUTES AGO
David Shepardson
3 MIN READ


Read more: https://www.reuters.com/article/us-usa-trade-china-zte/u-s-reached-deal-to-keep-chinese-telecom-zte-in-business-congressional-aide-idUSKCN1IQ2JY

[erronis]

1. Any deal that dump reaches has got to be bad for the US.

Anyone remember "What's good for GE is good for the US"? Anyone believe it then?

Anyone believe in the pretenses for the Spanish-American War? Or the Bay of Tonkin Incident? Or the Bay of Pigs? Or W's (Cheney's) rationalization for Desert Storm?

Does anyone believe anything that comes out as official-speak - from anywhere?

Crap - how can you run a "democratic" and "representational" country where 95% of the population believes the government (or the media) is lying? Doesn't that just lead to anarchy and lots of guns and stand-your-grounds and take-what-is-yours?

[Dave Starsky]

2. This company was busted for making phones that spy on their owners.

I mean, that's literally what they got in trouble for.

Is there some subtlety I'm missing here? Why are we doing this? And why does no one seem to question it?

[duforsure]

3. The opposite of his claims again

Of putting America first, and I wonder how how many people in China he and his daughter have doing their work there for them instead of Americans? His claims against Hillary is what he's doing, risking even greater threats to our National Security, and like his unsecured phones and their private unsecured email systems he and others are using , and illegal. Shows how little he cares about National Security. He has half a billion reasons why he's doing this now.

[keithbvadu2]

4. Wave $500million in front of Dotard's nose and it's Chinese jobs being rescued by America.

[Wellstone ruled]

6. Just think about this for a moment.

And we are on the verge of a major round of Inflation which will cause mega layoffs.

[Norbert]

5. The Wingers bitched about the GM bailout

that saved US jobs.

Trump bails out a Chinese business. ..crickets..

[Crash2Parties]

7. Trump blew it. Mostly b/c he is completely unqualified for the job.

When he hit ZTE he didn't know/care that they bought screens from Corning & chips from Qualcomm, both American companies whose sales plummeted.

[Initech]

8. ZTE just got The Art Of The Deal'd.

Just ask Carrier how well that went.

[RainCaster]

9. This is so crooked