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May 13, 2018

President Trump says that he is working to get ZTE ‘back into business, fast’

President Donald Trump says that he is working with Chinese President Xi Jinping to find a way for Chinese telecom company to “get back into business, fast,” following last week’s announcement that it was pausing its “major operating activities.”

ZTE said in a filing that it has just enough cash to remain afloat if it pauses operations following a US ban on exports to the company in April. Last month, The US Department of Commerce banned exports to the company for seven years, saying that it failed to uphold the terms of a plea agreement after it pled guilty to breaking sanctions against Iran and North Korea. The company said that this ban would “severely impact the survival and development of ZTE,” and that it’s bene in talks with the...

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