ZTE Ceases Operations Due To US Ban, Despite Trump Pledge
ZTE Ceases Operations Due To US Ban, Despite Trump Pledge
Trump to Ease Sanctions on Chinese Telecom
15 May, 2018, 22:37
The United States is not seeking a trade war with China and top USA officials are looking to make a deal with Beijing, White House economic adviser Larry Kudlow said on Tuesday as talks between the two nations were set to resume.
Kudlow told Politico that the United States was not looking for a trade war with China and that it was not clear what action the United States would take toward ZTE.
Kudlow, speaking in a live interview with Politico news outlet, said he backed U.S. Treasury Secretary Steven Mnuchin's efforts to reach an agreement with Beijing and that both countries must take action.
U.S. Ambassador to China Terry Branstad, who was at the Beijing talks, said earlier on Tuesday the United States wants a timetable on how China will open up its markets to U.S. exports as the two countries are still not close to resolving trade frictions.
Asian shares were mostly lower in muted trading Tuesday amid continuing uncertainty over trade tensions between China and the U.S.
FBN's Connell McShane and Susan Li on the Trump administration's efforts to reduce the US trade deficit with China and concerns of a potential recession by 2020.
Also in April, Trump threatened to introduce extra tariffs on the Chinese imports worth about 150 billion dollars per year. China counterpunched with tariffs on a range of US products, including bourbon and blue jeans. In retaliation, Beijing is threatening tariffs on $50 billion in US products.
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White House spokeswoman Lindsay Walters confirmed USA officials were in talks with China about the company, saying that Mr Trump expects Commerce Secretary Wilbur Ross "to exercise his independent judgement, consistent with applicable laws and regulations, to resolve the regulatory action involving ZTE based on its facts".
The first round of trade talks between China and the US took place in Beijing on May 3 to 4.
"You (Trump) should care more about our national security than Chinese jobs".
In March, Washington introduced a 25 per cent tariff on imported steel and a 10-per cent tariff on imported aluminium.
"We're still very far apart", he said.
As part of this, they also entered into an agreement with the U.S. government.
One area the world's two most powerful economies likely won't be able to address during discussions this week is China's practice of what is known as technology mercantilism, in which it distorts policies and systems in order to expand domestic technology production.
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USA officials are preparing for talks in Washington with China's top trade official Liu He to resolve an escalating trade dispute. Trump's reversal will likely have a significant impact on ZTE's United States suppliers such as Qualcomm and Intel.
For both countries to go head-to-head this year, Russian Federation first has to get through Thursday's semi-final. That said, she's no stranger to Eurovision: on the contrary, she has featured in the contest twice already.
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