United States China-ZTE story

Trump Can't Tame The Trade Deficit, So He'll Settle For Taming Wilbur Ross

Ross, U.S. Trade Representative Robert Lighthizer and others were. Commerce Secretary Wilbur Ross said much the same on Monday.

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast", Trump said.

President Trump has directed the Commerce Department to look into easing US economic sanctions against China's major telecommunication company linked to illicit trade with rogue states.

As of Monday, the USTR's Office has received over 2,700 filings of written comments regarding the administration's tariff approach, with major US business groups opposed to tariffs on Chinese products. "The more we can work things out, the better it's going to be not just for USA and China, but for the entire world economy", he said.

An even higher-stakes fight looms over American allegations that China steals technology and forces USA companies to hand over trade secrets in exchange for access to the Chinese market.

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China said Monday it is sending an envoy to the United States this week for talks aimed at cooling a trade dispute that threatens to upend markets from soybeans to steel, and welcomed comments by President Donald Trump hinting at a possible easing of sanctions on embattled Chinese telecoms firm ZTE.

"The United States and China are the two biggest economies in the world". It would reduce USA gross domestic product by almost 3 billion dollars and destroy 134,000 American jobs annually, according to a new study recently released by the federation and the Consumer Technology Association. Earlier this month China responded in turn, threatening to impose a similar amount in levies on over 100 U.S. imports including soybeans, and automobiles. By cutting off access to USA suppliers of essential components such as microchips, the ban threatens ZTE's existence, the company has said.

"You (Trump) should care more about our national security than Chinese jobs". -China trade talks in Beijing earlier this month where the two countries failed to reach an agreement on the long list of USA demands. "So they can't say they don't know what we're asking for", he said. "But be cool, it will all work out!"

ENERGY: Benchmark U.S. crude oil gained 13 cents to $71.09 a barrel in electronic trading on the New York Mercantile Exchange.

California Rep. Adam Schiff, the top Democrat on the intelligence committee, criticized Trump for softening his stance on ZTE.

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