World News

Why the US-China trade talks could hinge on ZTE

Why the US-China trade talks could hinge on ZTE

President Trump meets with Senate Majority Leader Mitch McConnell, center, and Senate Minority Leader Charles E. Schumer on December 7.

President Trump has directed the Commerce Department to look into easing USA economic sanctions against China's major telecommunication company linked to illicit trade with rogue states.

Schumer (D-N.Y.), along with Sens.

The Obama and Trump administrations had previously sought to punish ZTE, a huge company that makes phones and other products, for selling items to countries in violation of USA sanctions.

Derek Scissors, a resident scholar at the American Enterprise Institute, said Trump letting ZTE off the hook after the company violated the Iran sanctions sends the wrong message.

The sides are reportedly zeroing in on an agreement that would remove US sanctions on the Chinese telecommunications giant, which is at risk of shutting down after the Trump administration barred domestic components manufacturers from selling to the company because it violated sanctions on doing business with Iran and North Korea.

President Donald Trump suggested the U.S. would reverse sanctions against Chinese tech giant ZTE.

Within three days of the Chinese government agreeing to provide $500 million in loans to an Indonesian theme park that the Trump Organization has a deal to license President Donald Trump's name to, the president stunningly ordered sanctions be rescinded against a major Chinese telecom company.

More news: Winklevoss Brothers Bitcoin Exchange Adds Zcash Bitcoin Cash, and Litecoin

USA officials recently went to China to open trade talks about Beijing's unfair trade practices.

Trump said on Twitter that he is working with Chinese President Xi Jinping to help ZTE because many jobs in China are at stake.

"The report concluded that the risks associated with ZTE's provision of equipment to USA critical infrastructure could undermine American national security interests", Wyden said.

"Bargaining away law enforcement power over bad actors such as ZTE undermines the historically sharp distinction between sanctions and export control enforcement and routine trade decisions made by the US", they wrote. The Commerce Department claimed that despite ZTE's assurance that it halted business in Iran, the company continued operations there.

Ross indicated the Commerce Department will be reviewing previous action on ZTE in the near future. Instead of reprimanding ZTE staff and senior management, ZTE rewarded them.

"We'd like to see China being just as open as the United States", he said.

His comments come as U.S. President Donald Trump's top trade and economic officials prepare to meet with Chinese Vice Premier He Liu to discuss trade concerns ranging from intellectual property protections to farm goods to steel capacity. "There is clearly an appearance of a connection between Trump looking to release ZTE from USA imposed sanctions three days after the Chinese government and Chinese banks agreed to provide a total of $1 billion in loans to a resort licensing the Trump name from his company". "The question is if there are alternative remedies other than the one we've already put forward. Stay tuned!" Trump tweeted on Tuesday.

During the confirmation hearing, Senator Mark Warner, expressed concern over the security threat posed by Chinese telecom giant ZTE.


  • The Man in White: Remembering Tom Wolfe

    The Man in White: Remembering Tom Wolfe

    Wolfe won the Bad Sex in Fiction prize in 2004 for I Am Charlotte Simmons and was also shortlisted in 2012 for Back to Blood. That kindled rivalries with contemporaries Norman Mailer and John Updike, who Wolfe referred to as "two old piles of bones".
    Packers not expected to sign WR Dez Bryant

    Packers not expected to sign WR Dez Bryant

    Except some guy named Dez Bryant . "You need somebody that can stretch the field and [be] an X factor, and that's Dez Bryant". I still believe Dez can high-point the football as good as any other wide receiver in the National Football League.
    Apple's Tim Cook tells graduates to be fearless

    Apple's Tim Cook tells graduates to be fearless

    The firm announced in February it was planning to move iCloud accounts registered in China to state-run servers. Cook has previously called on the federal government to step in and regulate the social media site.
  • Hidden pages uncovered in Anne Frank's diary contain dirty jokes

    Hidden pages uncovered in Anne Frank's diary contain dirty jokes

    She might have hidden these two original pages because she anxious that the other seven people in the annex would read her diary. The hidden pages had been covered with gummed brown paper - apparently to hide her risqué writing from her family.
    HSBC performs first trade finance transaction with single blockchain system

    HSBC performs first trade finance transaction with single blockchain system

    The transaction demonstrates that blockchain as a solution to trade digitisation, is commercially and operationally viable. HSBC handled the deal for United States food and agricultural group Cargill, in partnership with Dutch ING Bank NV.
    Kylian Mbappé voted Young Player of the Year by Ligue 1 players

    Kylian Mbappé voted Young Player of the Year by Ligue 1 players

    Neymar has scored 28 goals in 30 appearances since his world-record £198million transfer from Barcelona last summer. Robinho believes that Neymar move to Real Madrid would benefit the former Barcelona star.
  • Astronomers discover the fastest-growing black hole ever

    Astronomers discover the fastest-growing black hole ever

    Astronomers believe they may form when a large cloud of gas up to 100,000 times bigger than the sun, collapses into a black hole. But the 2.3-meter telescope allowed them to detect the light in near-infrared and really understand the scope of the discovery.
    Kristen Stewart Defies Cannes' Strict Red Carpet Policy

    Kristen Stewart Defies Cannes' Strict Red Carpet Policy

    She came, posed, kicked off her Christian Louboutin heels and made a political statement at the Cannes Film Festival . Stewart , a self-confessed fashion junkie, revealed that her thoughts are nothing against heels either.
    OPEC member complains U.S.  president is driving up prices

    OPEC member complains U.S. president is driving up prices

    President Donald Trump's decision to exit the Iran nuclear deal has already pushed Brent prices above $77 per barrel. USA light crude CLc1 was down 66 cents at $70.70, off a 3-1/2 year high of $71.89 it hit on Thursday.
  • Chief Rabbi Blesses Ivanka, Jared, Calls Trump 'King of Kindness'

    The move itself was one of the prime reasons Palestinians charged the border fence with Israel, armed with rocks, tires, and homemade explosives.
    Nokia X6 specifications and pricing surface, confirms Snapdragon 636 SoC

    Nokia X6 specifications and pricing surface, confirms Snapdragon 636 SoC

    The leak suggests that the smartphone will be priced around CNY 1,499 (approximately Rs 16,000) for the 3GB RAM variant. Now, the price and the detailed specifications of the device have been leaked by Suning, an online Chinese retailer.
    Iran protesters chant anti-US slogans after nuclear deal pull out

    Iran protesters chant anti-US slogans after nuclear deal pull out

    He added that because Donald Trump differs very much from his predecessors, he hasn't ruled out any punitive U.S. moves against Rosatom.