Trump Says Working With Xi To Save ZTE
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2018-05-13 HKT 23:54
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US President Donald Trump says he's working with President Xi Jinping to prevent telecom giant ZTE from going out of business as a result of an American technology sales ban.
In a tweet, he said too many jobs in China were being lost as a result of the ban.
Earlier this month, ZTE suspended its main operations after the Commerce Department banned American supplies to its business, citing ZTE's failure to comply with an agreement with the US government after it pleaded guilty last year to conspiring to violate US sanctions by illegally shipping US goods and technology to Iran.
ZTE is one of the world’s largest telecom equipment makers, and American companies provide an estimated 25 percent to 30 percent of the components used in ZTE’s equipment. (AFP, Reuters)