After ZTE reversal, Democrats accuse Trump of jeopardizing national security

16 May, 2018, 08:07 | Author: Dustin Murphy
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Now, the Trump administration and the Chinese government are locked in negotiations over trade. "I think that's where we are as a group".

Commerce Secretary Wilbur Ross says the department will be exploring "alternative remedies" to punish the Chinese company ZTE for defying trade sanctions. Trump's Justice and Commerce departments enacted stiff penalties, which most thought could put the company out of business because it would be blocked from acquiring US parts.

All three major US stock indexes were down almost 1percent, on track to post their worst daily declines in three weeks. The White House is increasingly preoccupied with its efforts to reach a peace deal with North Korea and avoid a trade war with China. The EU wants to improve trade relations with the US, but won't make concessions to solidify the exemption because it needs to consult with its 28 members, European Commission Vice-President Jyrki Katainen told a news conference, according to Reuters. "Stay tuned!" Trump tweeted on Tuesday.

Reuters reported China is "willing in principle" to import more USA agricultural products in return for easing penalties on ZTE.

Kudlow was critical of ZTE in an interview with the Politico news outlet, saying it was a "very poorly run company" with "many internal flaws".

"It really tells you that there's no justification at all for the Federal Reserve to slow down the growth pace, which tells you that maybe this hiking thing and long term yields is real", Chan said. "The issue is to not simply to let them off, but perhaps to do so in a manner that they could conceivably go back into business". "I fully expected China to apply political pressure to get the denial order lifted". This has fanned fears of a full-blown commerce war that could hurt the supply chains that balance global trade. Republican senators from agriculture states have been lobbying the president about every chance they get to make sure farmers don't end up as the big losers in the US-China trade spat.

Washington lawyer Douglas Jacobson, who represents some of ZTE's suppliers, said: "This is a fascinating development in a highly unusual case that has gone from a sanctions and export control case to a geopolitical one".

"This enforcement action against ZTE is not a trade issue", Rubio said on Fox News Channel.

"We don't know what the outcome is going to be - I can't possibly say here", Kudlow said.

Branstad said China has not met pledges to open up its insurance and financial services area, as well as reduce auto tariffs, and that Trump would like to see a "dramatic increase" in food exports to China. Both the United States and China have proposed tariffs worth tens of billions of dollars in the last few weeks.

The companies are controlled by the Communist Party of China and could be used for operations to compromise US communications infrastructures, the report said.

The utilisation of nontraditional collectors here in the United States - engineers, scientists, students in school - and their ability to, from a cyber-enabled perspective, identify and attract unclassified data from research facilities continues to allow the U.S. to not only lose positions, jobs, research and funding, as well as provide first-to-market capability to the Chinese, he said.



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