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Trump Strikes Deal With China's ZTE on Sanctions (usatoday.com)
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.
This is how international trade works in the real world. If you completely screw your big trading partners, they screw you back and everyone loses.
ZTE's demise helps no-one. It wouldn't have made America great again, that's for sure. For once Trump did the right thing.
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