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The Trump administration told lawmakers the U.S. government has reached a deal to put Chinese telecommunications company ZTE Corp back in business after it pays a significant fine and makes management changes, a senior congressional aide said on Friday.
U.S. President Donald Trump appeared to confirm the deal in a tweet late on Friday. “I closed it down then let it reopen with high level security guarantees, change of management and board, must purchase U.S. parts and pay a $1.3 Billion fine.”
The reported deal involving China’s second-largest telecommunications equipment maker ran into immediate resistance in Congress, where Democrats and Trump’s fellow Republicans accused him of bending to pressure from Beijing to ease up on a company that U.S. intelligence officials have suggested poses a significant risk to U.S. national security.
ZTE was banned in April from buying U.S. technology components for seven years for breaking an agreement reached after it violated U.S. sanctions against Iran and North Korea.. After ZTE makes a series of changes it would now be allowed to resume business with U.S. companies, including chipmaker Qualcomm Inc.
The deal, earlier communicated to officials on Capitol Hill by the Commerce Department, requires ZTE to pay a substantial fine, place U.S. compliance officers at the company and change its management team, the aide said.
The Commerce Department would then lift an order issued in April preventing ZTE from buying U.S. products. ZTE shut down most of its production after the ruling was announced.
Fox News said Trump told them on Thursday that he had negotiated the $1.3 billion fine with Chinese President Xi Jinping in a phone call.
ZTE, which is publicly traded but whose largest shareholder is a Chinese state-owned enterprise, agreed last year to pay a nearly $900 million penalty and open its books to a U.S. monitor. The penalty stemmed from for breaking an agreement after it was caught illegally shipping U.S. goods to Iran and North Korea, in an investigation dating to the Obama administration.
Source: http://www.oann.com/u-s-reached-deal-to-keep-chinese-telecom-zte-in-business-new-york-times/
(Score: 1) by khallow on Tuesday May 29 2018, @02:55AM (9 children)
(Score: 2) by c0lo on Tuesday May 29 2018, @03:52AM (8 children)
In this circumstances, arranging "penalties" against Chinese companies by "private phone" doesn't bear enough confidence to my taste - not enough checks.
(personal experience: I left my native country mainly due to corruption. And usually the fish rots from the head down)
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 1) by khallow on Tuesday May 29 2018, @12:47PM (7 children)
Compared to what? International politics has always been seedy and opaque. And why judge Trump by these standards, but not Xi Jinping?
(Score: 2) by c0lo on Tuesday May 29 2018, @01:18PM (6 children)
Compared with non-secret negotiations conducted by a team of govt servants or at least with Congress oversight.
Remember the secrecy around TPP agreement?
Here are some examples of possible stink:
- China Approved More Ivanka Trump Trademarks the Same Week As Daddy’s ZTE Pivot [splinternews.com]
- Trump's controversial ZTE order came days after the Chinese government provided millions to a Trump Organisation-tied project [businessinsider.com]
Are they true? Are they false? We may never know, but I know for sure that I haven't heard such "coincidences" with "deals" negotiated with/by the US past (at least the past I can remember).
Because I don't have expectations of high moral ground from the Chinese part - their culture is quite used to greasing the wheels [wikipedia.org].
Do you wish to see the same institutionalized in US?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 1) by khallow on Tuesday May 29 2018, @02:17PM (5 children)
It's been there since the dawn of the US for the same reasons as it exists in China. My view is that all governments should be held to that standard, not just the ones that you currently dislike.
(Score: 2) by c0lo on Tuesday May 29 2018, @02:26PM (4 children)
Your view about my disliking. On top of an 'what-about Xi' kind of argument.
If we got here, my view is that we wandered enough the breadth and depth of this subject. What say you?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 1) by khallow on Tuesday May 29 2018, @03:08PM (3 children)
(Score: 2) by c0lo on Tuesday May 29 2018, @03:22PM (2 children)
If you want to keep in your mind, feel free. You won't object if I'm discarding it from my mind, will you?
I admitted [soylentnews.org] it's a matter of personal taste and provided the motives (based on personal experience) for which the situation stinks to my nose. If this detail was lost from your mind...
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 0, Troll) by khallow on Tuesday May 29 2018, @03:40PM (1 child)
You're free to be as ignorant as you'd like So how much would ignorance would you like?
In other words, you are unwilling to provide a reasoned basis for your opinion. I don't care in the least for your "tastes". It's just another flavor of bullshit.
As to the "stink" of the situation, all of the heads of state have been given leeway to operate in that way. We'll just have to see what happens. And if it's somehow kept so secret that we can't glean the truth, then it probably wasn't much of a concession on anyone's part.
(Score: 2) by c0lo on Tuesday May 29 2018, @03:57PM
I love you too, khallow. Bye.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford