ZTE could face fresh US$1.3b fine

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Reports, since denied by Trump, that the U.S. was close to easing penalties against ZTE Corp and allowing the Chinese company to resume buying U.S. components, was also criticized by lawmakers.

The ZTE deal, while not yet cemented, was likely to be finalised before or during a planned trip by U.S. Commerce Secretary Wilbur Ross to Beijing next week to help reach a broader pact to avert a trade war, both sources said. Some of his loyalists led by former chief strategist Steven Bannon criticized the deal as a capitulation. Trump, when asked if he was happy with how recent trade meetings with China went, responded, "No".

A fine plus punishing executives sounds a lot like the penalty Commerce already imposed on ZTE when it first found out about its business with Iran and North Korea. "Mnuchin has completely misread the geopolitical, military, and historical precedents, and what President Trump had done was finally put the Chinese on their back heels".

Exports of agriculture were directly or indirectly responsible for 524,000 jobs in 2014, according to analysis by the International Trade Administration; petroleum and coal products were responsible for an additional 255,000.

During a trip to Beijing earlier this month, Navarro and Mnuchin argued about the US negotiating position, and Navarro wasn't deeply involved last week in negotiations with a Chinese delegation in Washington.

The divisions are apparent in Trump's public actions.

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The action was related to violation of United States sanctions on Iran and North Korea and banned American companies from selling semiconductors and other components to ZTE, causing the Shenzhen-based company to cease most operations. So much of the Trump ego rests on his perception of himself as a master negotiator.

The deal would put President Donald Trump's tariffs on $150 billion of Chinese goods "on hold" in exchange for China agreeing to purchase more United States agricultural goods and energy resources.

After three days of talks, the Trump administration said it was holding off on imposing new tariffs on China.

Washington neared a deal to lift its ban on us firms supplying Chinese telecoms gear maker ZTE Corp, sources said on Tuesday, and Beijing announced tariff cuts on vehicle imports, further easing trade tensions between the world's two largest economies. A veto-proof bill enforcing sanctions on ZTE, though, would be an especially embarrassing (and risky, given the North Korean diplomacy) act of defiance if Congress managed to make it happen. Making changes to their board and a fine won't stop them from spying and stealing from us. "But this is too important to be over".

"Were discussing various deals", he said. He repeated prior statements that a consensus had been reached and the US would send a delegation to China to work out the details.

"President Xi has played President Trump and Secretary Mnuchin".

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As for Rubio's claim that Team Trump is being outnegotiated by China, read this.

Sen. Marco Rubio, R-Fla., blasted the idea of a deal with ZTE, saying on Twitter: "Here is #ZTE timeline: Violated U.S. sanction laws & got caught lying & covering up".

Improved access to the Chinese market is a key demand of U.S. negotiators, who say Chinese rules put worldwide firms at a disadvantage.

During an initial round of talks this month in Beijing, Washington demanded China reduce its trade surplus by $US200 billion ($266 billion). The two sides also agreed to reduce the trade imbalance between China and the U.S. but did not reveal specifics. Trump suggested himself that Xi was pulling strings in Pyongyang to put pressure on US trade negotiators. "But its also a phone company that buys a large portion of its parts that make up these phones that are sold all over the world, from American companies", Trump argued.

Some Republicans warned Trump that congressional seats held by their party that should have been safe in midterm elections were endangered by the trade dispute.

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