Trump Promises to ProtectChinese Jobs By Saving Smartphone Maker ZTE
President Donald Trump announced plans Sunday to pursue a reversal on trade policy with a key Chinese smartphone company that would cancel a move made just last month by his own Commerce Department.
“President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast. Too many jobs in China lost,” Trump tweeted. “Commerce Department has been instructed to get it done!”
In April, the Commerce Department blocked U.S. companies from selling parts and providing services to ZTE until 2025 over allegations that the Chinese firm violated sanctions on North Korea and Iran, CNN reported. Last Wednesday, The New York Times reported that ZTE halted manufacturing as a result. “The first casualty of the high-tech cold war between the United States and China might be the biggest electronics maker you’ve never heard of,” the Times reported.
ZTE has about 75,000 employees and is the fourth biggest smartphone vendor in the U.S., behind LG, Samsung, and Apple.