Speed Reads

trade truce

Trump says he's working with China's Xi Jingping to get a Chinese telecom 'back into business, fast'

President Trump tweeted Sunday morning he is working with China's President Xi Jinping to help a Chinese telecom shuttered by a U.S. Commerce Department export ban:

ZTE obtains about one quarter of its manufacturing components from American businesses, and it suspended operations earlier this month after the Trump administration told U.S. companies they could not have dealings with ZTE. The Commerce Department said ZTE violated U.S. sanctions by shipping American-made goods to Iran and North Korea. The company says the violation was unintentional, not the result of willful deception, and the ban is too onerous a punishment.

ZTE is the fourth largest supplier of cell phones in the United States.