China And America Agree On The ZTE Dispute

- May 22, 2018 -

According to the Wall Street Journal, informed sources revealed that the United States and China have already reached a consensus on the disputes related to ZTE and the two parties will soon resolve their trade disputes.


Informed sources said that details are still being finalized. After the finalization, the Trump administration will cancel the sales ban on ZTE. This punishment has already threatened the company's business operations. At the same time, ZTE will be forced to make large-scale adjustments to its management and board of directors, and may face large fines.


As part of the negotiations, China will cancel tariffs on US agricultural products worth several billion U.S. dollars. However, people familiar with the matter said that the White House has not proposed any exchange terms. This person said: "The White House is very cautious about this attitude, saying that this case is a law enforcement issue, not a bargaining bargaining chip in the negotiations."


The informed source warned that the negotiations are still continuing and the agreement may still be broken.


On Monday, U.S. Treasury Secretary Steven Mnuchin told CNBC that “(the penalty) was not to make the company go out of business.” He also defended Trump’s decision to save ZTE.


Chinese Foreign Minister Wang Yi will continue to negotiate on the ZTE incident in Washington this week. U.S. Secretary of Commerce Wilbur Ross, who is in charge of the ZTE event, plans to arrive in Beijing next week.


After the Chinese negotiators promised to purchase more American products, the United States and China announced at the weekend that the trade dispute between the two sides had been suspended. Two days after the negotiations in Washington, the two parties issued a joint communique, but they did not mention ZTE. Trury Chief Economic Advisor Larry Kudlow said on Friday that ZTE must adjust its management and board of directors


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