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Trump Says ZTE Can Re-Open... With Conditions

Late Friday, President Trump said he would let Chinese networking firm ZTE re-open -- with a commitment to buy American components, change its management, and pay a $1.3 billion fine -- in a move that defies a previous bipartisan ruling against the company by US lawmakers.

In April, the US goverment banned domestic component sales to ZTE, saying that the firm had broken sanctions by selling products to Iran and North Korea. ZTE ceased operations because of the ban on May 9. (See US Govt. Bans Domestic Component Sales to ZTE and ZTE Ceases Business Operations After US Ban.)

Trump said on May 13 that he was working with President Xi Jinping of China to get ZTE back in business. This week (starting May 22), a US Senate committee moved to block any easing of sanctions on ZTE by the president. (See Trump Tweets on ZTE… & Gives the Chinese Vendor a Lifeline! and Trump Denies ZTE Deal, Faces Senate Backlash.)

On Friday evening, President Trump tweeted:

Republican Senator for Florida, Marco Rubio, had already blasted President Trump for the expected lifeline to ZTE earlier Friday:

— Dan Jones, Mobile Editor, Light Reading

MADJROUH 6/25/2018 | 5:30:07 AM
ZTE I thought the share price fall was pretty mild considering.

David Madjrouh 
Phil_Britt 5/29/2018 | 7:56:13 AM
Re: I wonder what will happen next week? Fully agree: To paraphrase, if it looks like a smelly fish, acts like a smelly fish, it's a smelly fish. This one stinks to high heaven.
rocket101 5/28/2018 | 3:10:53 AM
Re: I wonder what will happen next week? Let ZTE remain shut, one vendor and that too a Chinese vendor going belly up is not going to make any difference, they are plenty of vendors to replace ZTE. Congress should block Trump from making any move to bring ZTE back to life. ZTE has been caught multiple times, no fine is big enough as Chinese Govt. will subsidize the fine.
DanJones 5/26/2018 | 10:52:15 AM
I wonder what will happen next week? Very much doubt this is over.
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