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U.S. Reaches Deal to Keep China's ZTE in Business: Congressional Aide

posted by janrinok on Monday May 28 2018, @04:03AM   Printer-friendly
from the wheels-within-wheels dept.

MrPlow writes:

Submitted via IRC for guy_

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/

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  • (Score: 0) by Anonymous Coward on Monday May 28 2018, @06:19PM (2 children)

    by Anonymous Coward on Monday May 28 2018, @06:19PM (#685253)

    I don't even know where to start picking apart that word salad...

    And even easier to beat.

    Earth to Trump, come in Trump. Hey, is this thing calibrated for inter-dimensional communications? I think we need more power to breach Trump's reality distortion field. Tell California to prepare for a blackout...

    I would say, do you want to pick me, a very successful actor and businessman, very rich, very new to politics, or do you want to pick Bernie, a career politician?

    A sleazy used-car salesman and master bullshit artist who knows absolutely nothing about what he's about to get into, or someone with experience in the field? Wow, that's a tough choice. Tell me, Mr. Businessman, who would you hire? Someone with many years of experience doing the job and one of the more honest people in his field, or a smooth talker with a well-known lack of integrity and ethics and zero experience in the field who wants to jump right in and "see how it goes" as it were?

    Do you want a guy who would be the oldest President ever and, frankly, is bald? Or do you want a guy who's a very young 69 and has a full head of hair?

    "Oldest president ever?" You mean, you? Also, bald people tend to be more honest than those with bad comb-overs, and frankly, Bernie is in far better condition mentally than you've ever been. "Full head of hair?" You're only fooling yourself with that bad comb-over.

    And do you want the full-blown socialism where college is free and your college degree is worth nothing,

    As opposed to your full-blown fascist corporatism where college costs will sink you into debt for life and your college degree is worth nothing?

    or do you just want the universal healthcare?

    I don't want "universal" health care, I want single payer health care like very properly civilized country has.

    Which, by the way, I'm working on for you. Working very hard on that one.

    Please stop. Seriously. That thing you're working on is very much NOT what We The People want.

    While I won OVERWHELMINGLY!!!!

    See what I mean about bullshit artist? You actually believe your own bullshit. You LOST the popular vote (as in WE THE MOTHER FUCKING PEOPLE) by the largest negative gap EVER. Almost 3 million more people wanted "crooked Hillary" than wanted you. Why? Think about it. They would prefer someone just plain crooked over you. Crooked, versus sleazy, lying, cheating, self-serving, very likely treasonous, and the very benchmark by which crooked is measured.

  • (Score: 1) by khallow on Tuesday May 29 2018, @03:09PM (1 child)

    by khallow (3766) Subscriber Badge on Tuesday May 29 2018, @03:09PM (#685646) Journal
    It's a troll, son. It's not supposed to be a valid argument.

    • (Score: 0) by Anonymous Coward on Wednesday May 30 2018, @03:19AM

      by Anonymous Coward on Wednesday May 30 2018, @03:19AM (#686068)

      He's suffering from Trump Derangement Syndrome.