US Has Struck A "Definitive" Deal With ZTE: Ross

After weeks of haggling over trade, Commerce Secretary Wilbur Ross announced on CNBC Thursday morning that the US had reached a "definitive" deal with Chinese telecom giant ZTE to allow it to resume purchases from American suppliers, preventing a collapse of the massive Chinese corporation which was facing near certain death otherwise, and which, according to many, was a critical gating factor for China to greenlight the US-North Korea summit on June 12.

"At about 6 a.m. this morning, we executed a definitive agreement with ZTE. And that brings to a conclusion this phase of the development with them," Ross said on CNBC.

ZTE had been crippled by the White House's decision to ban US firms from selling parts to ZTE after it had been found in violation of a settlement stemming from illegal sales to Iranian companies, although rumors of a deal began circulating in recent weeks and culminated yesterday.

While it is not yet clear what the terms of the deal are, some claim that compromising with the Chinese company which has been a repeat violator of U.S. sanctions against Iran and North Korea, and has been identified as a national security threat, could set a dangerous precedent for trade negotiations with China.

Speaking on CNBC, Ross said the deal includes a $1 billion penalty against ZTE, and that a compliance team selected by the US would be embedded at the company.

Since the US first imposed its restrictions on ZTE in April, it has come close to striking a deal several times. Ross also waived aside speculation that the deal was part of a broader quid pro quo, adding that the ZTE deal was "quite separate" from other trade talks.

As Bloomberg pointed out last night, Trump's backpedaling on ZTE has angered both Democrats and Republicans who are pressing for stiffer restrictions on ZTE. Some are even considering action to block Trump from reversing the sales ban, with Marco Rubio among the most vocal critics. However, as Reuters reports, there's little Congress can do to stop Trump from striking a deal with ZTE. ZTE makes smartphones and is also a large manufacturer of telecom equipment. The company was famously the first Chinese state-owned telecoms equipment maker to go public, and is listed in Shenzen and Hong Kong.

Comments

Polynik3s Yellow_Snow Thu, 06/07/2018 - 08:51 Permalink

Wilbur Ross, Rothschild Jewish mafia...

In 1987 Donald Trump purchased his first casino interests when he acquired 93% of the shares in Resorts International.  Resorts International has a sordid history which began in the early 1950’s when it evolved from a CIA and Mossad front company which had been established for the purpose of money laundering the profits from drug trafficking, gambling, and other illegal activities...

On October 30, 1978, The Spotlight newspaper reported that the principle investors of Resorts International were Meyer Lansky, Tibor Rosenbaum, William Mellon Hitchcock, David Rockefeller, and one Baron Edmond de Rothschild.

Michael Collins Piper, in his book The New Jerusalem: Zionist Power in America has done an excellent job of describing the relationship between Donald Trump and Resorts International.  The following excerpt sums up the relationship:

“In 1987, upon the death of longtime CIA front man James Crosby, the nominal head of Resorts International, up-and-coming young New York real estate tycoon Donald Trump stepped into the picture and bought Crosby’s interest in the gambling empire.”

...For those wondering, Wilbur L. Ross Jr. spent 24 years at the New York office of Rothschild Inc. In the late 1990’s he started a $200 million fund at Rothschild Inc. to invest in distressed assets. 

 

https://philosophyofmetrics.com/how-rothschild-inc-saved-donald-trump-f…

In reply to by Yellow_Snow

mad mad world Thu, 06/07/2018 - 08:29 Permalink

Why do we need the commies "green light" for the summit? Who is the fking boss around here? Us or them? Fking commies. Thumb down makes you a commie sympathizer. Go move to China.

DosZap Winston Churchill Thu, 06/07/2018 - 16:07 Permalink

Bingo,

And hand in hand,same place that came from the Bible("Owe NO Man Anything").

And now we find out PRO North Korea have all our records /passwords,contacts/pics/etc,from Apple,Microsoft and Google.

 

MyHeritage DNA testing service says breach affected 92M users' data

The company said the breach was limited to user email addresses and that it has no reason to believe any other systems were compromised.

In reply to by Winston Churchill

CPL Thu, 06/07/2018 - 09:29 Permalink

Skuttle their ship and blow a hole through the engine.  Just keep unloading forty pounders until they sink.  Shoot anything that looks like it's alive.

No need for salvage