China, U.S. Negotiate Deal to Relax Sanctions on ZTE
Tuesday, May 15, 2018 | Comments

China and the United States are negotiating a deal to relax U.S. sanctions on China’s ZTE, which last week said it would close operations following a U.S. government decision to bar U.S. firms from exporting parts to the Chinese smartphone company, according to press reports.

The negotiations also would allow U.S. telecom company Qualcomm to move forward with its acquisition of NXP Semiconductors, which has been held up by China’s Commerce Ministry, the Wall Street Journal reported.

U.S. President Donald Trump reversed his original position on the sanctions with a May 13 Tweet that said he was working to get ZTE “a way to get back into business, fast. Too many jobs in China lost.”

“Given all of these factors, I hope that we can make a fair deal,” said Commerce Secretary Wilbur Ross in a May 14 speech on Chinese trade that noted the president’s Tweet and China’s dependence on U.S. technology. “But if that does not happen, a trade tit-for-tat will not be economically life threatening to the United States.”

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