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Trump Strikes Deal With China's ZTE on Sanctions (usatoday.com)

Posted by msmash on from the all-good-now dept.

The Trump administration struck a deal Thursday with a Chinese telecom that will allow it to do business with U.S. companies even though it violated sanctions. From a report: China's ZTE will pay a $1 billion penalty and will embed a U.S. appointed compliance team, terms that are similar to those President Trump discussed last month when he revealed that Chinese leaders had asked him to look into the matter. "At about 6 a.m. this morning, we executed a definitive agreement with ZTE," Commerce Secretary Wilbur Ross told CNBC in an interview Thursday. "And that brings to a conclusion this phase of the development with them." Trump asked the Commerce Department to investigate the restrictions on ZTE in April following a request from Chinese President Xi Jinping. Commerce imposed a seven-year ban after the company sold American-made products to Iran, a violation of U.S. sanctions.

5 of 145 comments (clear)

  1. Re:So Much Winning by NoNonAlphaCharsHere · · Score: 3, Informative

    Spin THIS

  2. Re:What does Trump get out of it? by Carewolf · · Score: 4, Informative

    Trump's administration is openly pay-to-play, which begs the question, what does Trump get out of this transaction?

    China gave Trump a favorable business deal in the tune of a few hundred million dollars just before he wrote his tweet about "so many jobs lost in China, we must do something".

  3. Re:Secret part of the dealio... by thegarbz · · Score: 3, Informative

    ZTE has to embed NSA spyware into their US-market devices... or maybe all of their devices.

    Don't be daft. Trump is in this for personal gain not to prop up the NSA: https://www.huffingtonpost.co....

  4. Re:Is being unpredictable his strategy? by thegarbz · · Score: 4, Informative

    He's not in the least bit incompetent. He is doing the thing he knows how to do best: Enrich himself through corruption. ZTE had nothing to do about politics. https://www.huffingtonpost.co....

    5 days. That's all it took. 5 days from May 9th where Trump helped kill ZTE, to getting a major investment from the Chinese, to Trump helping bail ZTE out tweeting about his concern for Chinese jobs.

  5. Re:So now we know how much it costs! by Dare+nMc · · Score: 4, Informative

    ZTE illegally sold US-made goods in Iran and North Korea, making hundreds of millions from Iran alone. ZTE then promised to punish 7 people caught directly violating these US laws, instead it gave them bonuses.

    The espionage claims resulted in US government employees being prevented from using their phones, and is completely separate from these actions.