A quick Sunday morning tweet by President Donald J. Trump declared that he is working with Chinese leaders to help bring a phone company back “into business.”
Trump tweeted: President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!
According to The Washington Post: ZTE, one of China’s leading technology companies, announced recently that it will end “major operating activities” after the U.S. government barred American firms from doing business with the telecom equipment maker.
The announcement by the fourth-largest Chinese smartphone maker comes amid an escalating trade battle between the United States and China.
Last month, the Commerce Department barred U.S. firms from exporting parts to the Chinese smartphone company for seven years, saying that ZTE had violated a settlement of criminal and civil charges for making illegal shipments to North Korea and Iran.
Starved of crucial American microchips, the company was left teetering. ZTE said in an announcement Wednesday that “the major operating activities of the company have ceased.”
President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost. Commerce Department has been instructed to get it done!
— Donald J. Trump (@realDonaldTrump) May 13, 2018
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