U.S. President Donald Trump works with President of PRC Xi Jinping on lifting U.S. restrictions for Chinese producer of ZTE smartphones.
U.S. Department of Trade is ordered to help the company, The Verge reports.
“President of China Xi Jinping and I work on letting China’s large producer of ZTE smartphones quickly return to business”, Donald Trump wrote in Twitter.
According to Trump, “Too many jobs were lost in China. U.S. Department of Trade was ordered to do so”. Trump’s words about jobs are connected with the fact that ZTE telecommunication company is one of the largest companies in China, comprising over 80,000 employees.
Last month, U.S. Department of Trade banned export of U.S. component parts for ZTE within seven years, as Chine smartphone producer violated sanctions against Iran and DPRK and sold the equipment, produced from U.S. component parts, to the structures of these countries contrary to the ban.
It was previously reported that ZTE stated that it terminated “large operating activities” after Trump’s administration banned it to use components, produced in the United States. ZTE terminated “main operations”. At ZTE plant in Shenzhen, the production was suspended. The trade with ZTE shares was suspended for some weeks.
According to the expert opinion, ZTE can become the first victim of a “new cold war” between China and U.S., according to New York Times.