Last month, the United StatesĀ Department of Commerce dropped the hammer on Chinese company, ZTE, forĀ violating the terms of an Iran-related sanction violation case. The US banned all its companies from doing business with ZTE for seven years. ZTE pleaded guilty to selling and shipping US-made products and technology to Iran. While ZTE fired four senior staff for this action, it did nothing to another thirty-five staffs which were involved in the violation hence the United States imposed the super-stringent sanctions on ZTE.
President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!
— Donald J. Trump (@realDonaldTrump) May 13, 2018
Gizchina News of the week
However, a new tweet from US president, Donald Trump, suggests that both countries are working together so as to quickly return ZTE back to business. Due to the ban, ZTE’s business is not run normally thus the company had to downsize which has caused a lot of job losses.Ā According to a previous news, ZTE has filed an application to BIS for suspending execution of the refusal order and submitted supplementary materials according to the BIS guidelines.
China and the United States are working well together on trade, but past negotiations have been so one sided in favor of China, for so many years, that it is hard for them to make a deal that benefits both countries. But be cool, it will all work out!
— Donald J. Trump (@realDonaldTrump) May 13, 2018
Donald Trump also revealed in another tweet that trade business between US and China has favored China in years past and it is difficult for the Chinese to strike a dealĀ that favours both countries.
ohhhh poor man…I hope that’s not true and china starts to block them very soon š