Trump Says New 'Structure' Needed in China Trade Deal

Analysts Weigh In On US-China Trade Developments

President Donald Trump has cast doubt on the prospects for talks that are created to head off a trade war between the United States and China. "Both parties have come together today to strongly rebuke ZTE and the administration's soft approach". Democrat Chris Van Hollen of Maryland sits on the Senate banking committee, and he joins me now.

Trump has repeatedly defended his demand for Commerce to take a fresh look at the ZTE penalties, and did so again on Tuesday during a meeting with South Korea President Moon Jae-In.

"Putting our national security at risk for minor trade concessions is the definition of short-sighted", Senate Minority Leader Chuck Schumer, D-N.Y., tweeted at Trump.

Representatives for the White House did not respond to a request for more information about the president's statement.

In a Twitter post, Rubio said he has urged Trump to "follow his initial instincts on China", and he also asked Trump to "listen to those who understand that a short-term trade deal that sounds good but poses long-term danger is a bad deal". It was not immediately clear whether he was referring to ZTE or broader trade negotiations.

An agreement in 2017 called for the company to pay as much as $1.2 billion and penalize the workers involved, in what was the largest criminal fine for the Justice Department in an export control or sanctions case. There have been concerns the USA would impose a ZTE-like ban on China's largest mobile and telecommunications company, Huawei Technologies Co.

Shenzhen, China-based ZTE depends on US components, such as chips from Qualcomm Inc., to build its smartphones and networking gear.

The ban has threatened the viability of ZTE by cutting off access to companies that supply 25 percent to 30 percent of its components.

Beijing had been pressing Washington to lift the ban, and President Trump said last week he was willing to help ZTE get back into business.

Jared Kushner: Security clearance restored for Trump's son-in-law
At one point, the White House had dozens of employees awaiting permanent clearances before Chief of Staff John F. Special Counsel Robert Mueller's investigation into Russian interference in the 2016 presidential election.

MARTIN: Because, we should note, it was his Commerce Department that imposed these fines on ZTE.

Cornyn said that while the meeting with Mnuchin and Ross did not include a discussion about congressional action, the fiscal 2019 defense authorization bill being considered by the Senate Armed Services Committee is the vehicle for a bipartisan measure created to strengthen the Committee on Foreign Investment in the United States (CFIUS) process.

"When I looked at it I said, you know, they could pay a big price without necessarily damaging all of these American companies, which they are because you know you're talking about tremendous amounts of money and jobs", he said. "Any changes to this will fully support the mandate of making sure our sanctions and our technology are protected".

Trump has also found himself under attack for retreating from penalties his administration announced against a large Chinese telecommunications company, ZTE, for violating U.S. sanctions against Iran and North Korea.

VAN HOLLEN: Well, there was strong bipartisan support in the Senate just last month when the secretary of commerce imposed major penalties on ZTE not only for repeatedly violating US sanctions but then for repeatedly lying about it.

"They did make clear that this was primarily, nearly entirely an enforcement action under the auspcices of Commerce", the Texas Republican said after the meeting. But he stressed the administration takes national security concerns seriously.

US President Donald Trump on Tuesday said he was reconsidering US penalties as a favor to Chinese President Xi Jinping (習近平) and might instead fine the company more than US$1 billion.

He declined to comment on what alternative remedies Commerce may be considering.

Related News:

Most liked

Neymar back in training with Brazil
Neymar was back in training on Tuesday (Wednesday, Manila time) to give Brazil a big boost ahead of the World Cup. Lasmar said Costa picked up the injury during Juventus' 2-1 win against Verona last weekend.

Pentagon Blocks China From Joining Naval Exercise
Washington also is engaged in a trade dispute with China over USA complaints about market access and technology policy. Jim Fanell hailed the Pentagon's action as a step toward correcting an unbalanced policy in dealing with China.

Comcast prepares to challenge Disney for Fox assets
To be clear, though, Comcast's proposal would not include Fox's other branches, such as their news and business networks. Comcast shares were down 1.5 percent at $32.01 while Disney was down 0.6 percent at $103.48 in premarket trading.

Pompeo's Anti-Iran Speech Reveals Bankruptcy of US: Zarif
The deal, which Trump called the "worst deal ever", trades sanctions relief for a rollback in Iran's nuclear program. The United States' European allies, which have many economic links with Tehran , have been particularly frustrated.

NFL Won't Stand for Players Not Standing During National Anthem
That led to a league-wide protest where more than 200 players either refused to stand for the anthem or stayed in the locker room. It could have continued to address the protests and work with players to move away from what was making owners so uncomfortable.

Venezuela election: Maduro expels top United States diplomat
But North Korea, at least, sent Maduro a hearty congratulations. "What happened in Venezuela on Sunday is truly freakish ". Vice President Mike Pence called the election " a sham - neither free nor fair ".

Security advocates challenge facial recognition in policing
In a separate petition , the ACLU states: "Facial recognition is not a neutral technology, no matter how Amazon spins this". Facial recognition software works by matching real time images to a previous photograph of a person.

Kelly In New York Alleging Sexual Battery And False Imprisonment
Kelly also said that he would "help her work on it" and that he wanted to "teach [Rodgers] and show [her] how to be a woman". Last month, he responded to a Time's Up campaign asking corporations and venues to sever ties with him .

US Issues Alert in China 'Abnormal Sensations of Sound'
China's Foreign Ministry and National Health Commission did not immediately respond to faxed questions about the report. The US has held Cuba responsible, either for allowing the suspected attacks to happen or for carrying them out itself.

Tamil Nadu class 10 SSLC results announced; 94.5 per cent students pass
The Directorate of Government Examinations ( DGE) Tamil Nadu is set to announce the TNBSE SSLC Result 2018 on Wednesday, May 23. Almost 1% or 9,402 students have secured about 481 marks, while over 38% students have scored in the range of 301-400 marks.

Sterlite violence: MHA asks TN government to provide details of Tuticorin incident
Most of the injured are civilians but 36 policemen also suffered injuries of various kinds in mob fury, official sources said. Sterlite Copper represents the copper unit of Vedanta Ltd which operates a four lakh tonne per annum plant at Tuticorin .

M&S profits plunge as transformation costs hit
They show that the company continues to focus on rapid change, with significant short-term costs being recorded. In both businesses we need to revitalise our ranges and reassert our reputation for value for money.

Rising trend of casino apps
For those who are looking for a specific game, Cherry Rush also includes a description of what games can be found each site. It used to be that if someone wanted to play a casino game they had to find a land based venue.

Bets for upcoming Southampton vs Arsenal fight
Neither Arsene Wenger nor his players could afford themselves to lose another match if they still want to be in the top four. Arsenal is still keeping the dream to be qualified in Champions League after the victory over Manchester on Sunday.

3 Entertaining Ways to Improve Your Business Skills over the Coming Weeks
In both games and business meetings you may feel everything from frustration to elation, but the trick is to keep is all hidden. Play Poker While millions of people around the world may play poker solely for fun, you can also play to up your business game.