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Trump says he's working with Chinese president to get ZTE 'back into business, fast'

2018-05-14 09:46:03       source:CNBC

May 14, 2018

U.S. President Donald Trump said on Sunday on Sunday he will help Chinese technology company ZTE Corp "get back into business, fast," after being crippled by a U.S. ban, a concession to Beijing ahead of high-stakes trade talks this week.

ZTE suspended its main operations after the U.S. Commerce Department banned American companies from selling to the firm for seven years as punishment for ZTE breaking an agreement reached after it was caught illegally shipping U.S. goods to Iran.

Trump's instructions to the Commerce Department, stated in a tweet, come as Chinese and U.S. officials prepare for talks in Washington with China's top trade official Liu He to resolve an escalating trade dispute between the world's two largest economies.

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