Rep. Himes Questions Trump's Support Of Chinese Telecom Company

16 May, 2018, 00:51 | Author: Arnold Perez
  • Rep. Himes Questions Trump's Support Of Chinese Telecom Company

US lawmakers on Tuesday rejected any plan by President Donald Trump to ease restrictions on China's ZTE Corp 000063.SZ , calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company.

ZTE, China's major phone company was seriously affected by the tough U.S. trade sanctions imposed against it recently.

-China trade spat. In March 2017, the Commerce Department hit ZTE with a $1.2 billion penalty for violating USA sanctions on Iran and North Korea, and for misleading the US government about the firm's actions. President Trump surprised observers on Sunday when he opened the door to a deal by pledging to reverse that ban, saying the sanctions destroyed too many Chinese jobs.

The first round of trade talks between China and the USA took place in Beijing on May 3 to 4. Early this month ZTE halted core operations.

"The United States and China are the two biggest economies in the world".

His words come just over a month after the US Commerce Department blocked ZTE from importing US components for its products for seven years.

Sen. Marco Rubio (R., Fla.) criticized the plan to ease sanctions on ZTE and said the company has benefited from the theft of American technology.

Given the amount is only 2.5 per cent of China's annual exports, many economists believe the direct impact would be small.

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Almost three dozen Senate Democrats on Tuesday called on President TrumpDonald John TrumpAvenatti defends right to release Cohen's financial info Pruitt's 24/7 security requested over fears of Trump policy backlash Senate GOP anger over McCain insult grows MORE to put U.S.jobs and national security ahead of China.

Trump has long-promised to crack down on China and raised concerns about an all-out trade war after threatening $150 billion in tariffs and prompting China to retaliate.

Ross indicated the Commerce Department will be reviewing previous action on ZTE in the near future. This notion is behind Beijing's industrial policy, known as "Made in China 2025". "They would run out of targets for tariffs much sooner than we would". And they argue it marks the end of the US's role as an "honest broker" in Israeli-Palestinian negotiations.

"Now Chinese officials are beginning to worry about China's economic resilience and potentially weak domestic demand, thus adding to the pressure on Liu, the helmsman of China's economy", the source said.

But high-tech products are another matter, Kennedy notes, as they are deeply associated with national security and military superiority.

A security firm, Kryptowire, disclosed in 2016 that Chinese phones are loaded with software that sends a user's data to Beijing.

ZTE admitted to the wrong-doing, paid $890 million in penalties, and said it would cut bonuses of its officials who orchestrated the sale.

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