After war of words China, Trump vows to help ZTE

14 May, 2018, 05:52 | Author: Brooke Harris
  • President Trump just saved embattled Chinese phone maker ZTE

"But calm down, everything will work out!", - he wrote in Twitter.

Reports suggested that the Chinese government was working on ZTE's half to find a compromise, and it looks like Chinese Premier Xi Jinping himself got in touch with the U.S. President, who said today in a tweet that is he "working... to give..."

The United States and China will be able to reach an agreement in the sphere of trade that would benefit both countries, said the President of the United States Donald trump. The U.S. accused ZTE of misleading American regulators after it settled charges of violating sanctions against North Korea and Iran.

President Donald Trump says he is looking for a way to let a Chinese technology firm "get back into business fast" after USA trade ruling severely crippled the company.

The U.S. had cut off exports of U.S. -made parts to ZTE - more than 25 percent of the components ZTE needs to build its wireless stations, optical fiber networks and smartphones.

Trump, of course, made jobs a focal point of his campaign, during which he had harsh words for China. She said Trump's tweet underscored the importance of "free, fair, balanced and mutually beneficial" relations between the us and China.

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A U.S. blockade has choked off the revenue of the No. 2 Chinese telecom company, which regards the next two weeks as crucial as it faces potential collapse.

Several U.S. intelligence agencies have warned against buying ZTE and Huawei phones. Those penalties prevented U.S. companies selling to the Chinese concern, which is a bit of a show-stopper as ZTE is reliant on United States companies for all manner of parts - Qualcomm for smartphone CPUs is the tip of the iceberg. The punishment resulted in ZTE suspending all major operations, according to a May 10 statement. In 2016 the Obama administration announced that it was punishing the company for its alleged sanctions violations by restricting the sale of key USA exports to ZTE, but weeks later it suspended the punishment after the telecom equipment maker agreed to work with US authorities. By cutting off access to US suppliers of essential components such as microchips, the ban threatens ZTE's existence, the company has said.

That cut off access to the USA technology it needs to build most of its products, from Qualcomm's semiconductors to optical chips from Lumentum Holdings.

The move has raised some concern among national security officials.

ZTE suppliers including Acacia, Oclaro, Lumentum Holdings, Finisar, Inphi and Fabrinet, all fell sharply after the ban was announced.

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