Trump to help Chinese telco ZTE 'get back into business' following ban

US Bans American Companies From Selling to China's ZTE

Chinese telecom equipment maker ZTE has been offered a lifeline after Donald Trump asked the US Commerce Department to help the company ZTE "get back into business, fast".

The whole thing led many to speculate about whether or not Trump had another reason for his sudden about-face on ZTE.

In April this year, the Commerce Department found ZTE had violated the terms of last year's settlement and banned USA companies from providing exports to ZTE for seven years.

U.S. President Donald Trump and China President Xi Jinping are working together to solve the issues faced by Chinese telecom company ZTE following the seven-year ban imposed by the American administration.

Trump's reversal will likely have a significant impact on ZTE's USA suppliers such as Qualcomm Inc and Intel Corp. In a statement Wednesday, ZTE said "the major operating activities of the company have ceased".

Problems started to pile up for ZTE as soon as the USA ruling highlighted how the company had violated a sanctions settlement involving illegal exports to Iran. The China-based company has announced that it has ceased its main business operations to the ban issued by the United States.

"The extent of the impact of the Commerce Department ban on U.S. suppliers was noted by the ZTE official, who was not authorized to speak publicly, as Chinese and USA government officials discuss a Washington visit next week by China's top economic [envoy Liu He for the second round of trade talks]".

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ZTE depended on American chips and other components, and is unable to continue operating without key supplies.

Qualcomm last month said it expected lost sales to ZTE to lower its earnings by 3 cents per share in the current quarter.

At the time, the company said it was still assessing the impact of being placed on the Commerce Department's blacklist.

Against that background, the Trump administration has barred military and government employees from using smartphones from ZTE and fellow Chinese maker Huawei.

The suspension of ZTE's operations follows several recent actions by the US government that hindered its business prospects.

For instance, MTN, a South Africa-based wireless carrier with 220 million customers throughout Africa and the Middle East, said the possibility ZTE would collapse forced the carrier to develop contingency plans.

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