Trump says look for with Xi a solution for ZTE


© Reuters. TRUMP SAYS LOOK FOR WITH XI A SOLUTION FOR ZTE

WASHINGTON (Reuters) – Donald Trump said on Sunday he was working with his chinese counterpart Xi Jinping to allow the oem telecom chinese ZTE hit by us sanctions, to rapidly resume its activities.

“President Xi of China and I are working together to offer the huge telephone company’s china-based ZTE, a path allowing it to resume its activities soon. Too many jobs lost in China. The department of Commerce has been instructed to settle it,” wrote the american president on Twitter (NYSE:TWTR).

ZTE announced on Wednesday the suspension of its main activities due to the sanctions taken against her by the United States. Washington has banned in April by american companies to sell components to ZTE for a period of seven years, a measure designed to punish him for breaching the terms of the economic sanctions imposed on Iran.

Like the other large telecoms equipment manufacturers, ZTE relies on american suppliers such as Qualcomm (NASDAQ:QCOM) or Intel (NASDAQ:INTC) for a good part of the components used in its smartphones and network equipment.

(Valerie Volcovici; Bertrand Boucey for the French service)

Leave a Reply