The United States (US) President Donald Trump has said he may lift a crippling export ban on Chinese technology firm ZTE and levy a $1.3 billion fine instead.<\/p>\n
His willingness to strike a deal has stirred controversy in the US, where the company has raised alarms related to national security.<\/p>\n
Trump said the current penalty, which led ZTE to halt major operations, has hurt US firms that sell to it.<\/p>\n
Democratic Senator Chuck Schumer called the proposal \u201ca wet noodle\u201d.<\/p>\n
He said it was a punishment \u201cin name only\u201d and warned the president against taking a softer stance on ZTE in exchange for promises of increased Chinese purchases of US goods.<\/p>\n
He said: \u201cPutting our national security at risk for minor trade concessions is the very definition of short-sighted. And, frankly, it would be a capitulation on the part of the Trump administration.\u201d<\/p>\n
Negotiations about the alternative punishment are ongoing and come amid broader trade negotiations with China. The president also wants China\u2019s help to curb North Korea and its nuclear ambitions.<\/p>\n
Trump said there was no deal yet but at the request of Chinese President Xi Jinping he is revisiting last month\u2019s ban, which blocks US companies from exporting to ZTE.<\/p>\n
He later added he is not satisfied with the current state of trade talks with China.<\/p>\n
\u201cI think that they\u2019re a start, but we need something,\u201d he said.<\/p>\n
The export ban is punishment for ZTE\u2019s failure to comply with a settlement reached over its violations of sanctions against North Korea and Iran.<\/p>\n
The president outlined the possible alternative while speaking to reporters in Washington on Tuesday at a meeting with the president of South Korea.<\/p>\n
In addition to the fine, he envisions new management, a new board of directors and requirements for significant purchases of US products, he said.\u2014BBC<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The United States (US) President Donald Trump has said he may lift a crippling export ban on Chinese technology firm ZTE and levy a $1.3 billion fine instead. His willingness to strike a deal has stirred controversy in the US, where the company has raised alarms related to national security. Trump said the current penalty, […]<\/p>\n","protected":false},"author":3,"featured_media":65737,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-65734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/65734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=65734"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/65734\/revisions"}],"predecessor-version":[{"id":65738,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/65734\/revisions\/65738"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/65737"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=65734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=65734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=65734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}