Categories Markets, Technology

U.S. and China in talks to remove restrictions on ZTE

The U.S. and China are said to be nearing a deal that could see the removal of the restrictions imposed on Chinese firm ZTE Corp. The deal, which is not yet official, could also include China’s removal of tariffs on U.S. agricultural products. On Monday, President Trump tweeted that the potential deal with China will benefit U.S. farmers.

Last month, the U.S. government banned all supplies from American companies to ZTE as a penalty for violations of trade agreements. This almost put the Chinese company out of business and increased the trade war tension between the U.S. and China. ZTE will now have to simply pay hefty fines and make changes in its management team. President Trump had indicated that he would help ZTE get back into business as the ban had affected a lot of jobs in China.

US-China talks on ZTE ban

This decision has not gone down well with several prominent people in political and industrial circles who believe that the U.S. government was allowing China to coax it into making a decision that was unfavorable for America. Senator Marco Rubio openly criticized the government for withdrawing from its previous firm position on ZTE and went on to state that minor penalties would not prevent ZTE from repeating past infractions as was seen in prior instances.

China is said to have already slashed tariffs on car imports bringing a relief to trade tensions between the two companies

China is said to have already slashed tariffs on car imports bringing a relief to trade tensions between the two companies. However, several people are unhappy that the U.S. is not fiercely tackling China’s unsporting trade practices. The ZTE deal is not yet confirmed but will be part of the efforts to find a middle ground with China on the ongoing trade issues.

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top