Donald Trump says working with Xi Jinping to save telecom giant ZTE

Donald Trump says working with Xi Jinping to save telecom giant ZTE

Donald Trump says working with Xi Jinping to save telecom giant ZTE

In a statement Wednesday, ZTE said "the major operating activities of the company have ceased".

Beijing has been closely following the developments around ZTE, a company with 80,000 employees and which is headquartered in southern China.

Spokesmen for Zinke and Pompeo didn't immediately respond to a request for comment sent outside normal business hours.

The company has been banned from selling equipment in the US, but shutting out supply chain partners like Intel, Qualcomm and Google is potentially catastrophic.

While it's not surprising that Trump would announce his support for such a move on Twitter, the fact that he's so forcefully supporting ZTE in the first place raises eyebrows for a number of reasons.

The ban on U.S. sales to the firm arose from its skirting of United States export controls by selling to banned countries like North Korea and Iran with employees documenting how to evade American oversight.

A bit of background: ZTE is one of the largest smartphone makers in China, where the company employs 75,000, according to The New York Times.

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President Donald Trump's administration banned sales of United States parts to Chinese phone maker ZTE. The order was causing "irreparable harm" to the company and partners, as well as millions of consumers, including those who own its phones and major network operators, the person said.

ZTE relies on USA companies such as Qualcomm and Intel.

Companies in the U.S. are estimated to provide up to 30% of the components used in ZTE's products, which includes smartphones and complex equipment for telecommunications networks. Unlike many other Chinese smartphone makers, ZTE's Android phones are also popular in the U.S, thanks to low-priced phones and savvy marketing ploys (the company's sponsored five National Basketball Association teams, including the Golden State Warriors).

The U.S. military banned ZTE from selling products on its bases earlier this month over surveillance concerns.

ZTE's troubles with the USA government are also playing out amid broader fears of an ascendant Chinese tech industry.

ZTE self-reported the discipline issue and corrected the mistakes, the ZTE official said, adding that the failure was not part of the same misconduct that led to last year's guilty plea.

Chinese Vice Premier Liu He is expected to resume trade talks with the Trump administration this week, after discussions in Beijing last week yielded no agreement on a long list of USA trade demands.

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