Last month, the United States Department of Commerce dropped the hammer on Chinese company, ZTE, for violating the terms of an Iran-related sanction violation case. The US banned all its companies from doing business with ZTE for seven years. ZTE pleaded guilty to selling and shipping US-made products and technology to Iran. While ZTE fired four senior staff for this action, it did nothing to another thirty-five staffs which were involved in the violation hence the United States imposed the super-stringent sanctions on ZTE.
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However, a new tweet from US president, Donald Trump, suggests that both countries are working together so as to quickly return ZTE back to business. Due to the ban, ZTE’s business is not run normally thus the company had to downsize which has caused a lot of job losses. According to a previous news, ZTE has filed an application to BIS for suspending execution of the refusal order and submitted supplementary materials according to the BIS guidelines.
Donald Trump also revealed in another tweet that trade business between US and China has favored China in years past and it is difficult for the Chinese to strike a deal that favours both countries.
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About the authorEfe Udin
Efe Udin, a government tech policy expert is a seasoned tech writer with over seven years of tech writing experience. Efe's true passion lies in exploring the intersection of technology, politics, and brand feuds.
With an astute understanding of the power dynamics and competitive landscape within the tech world, Efe delves into the intricacies of how technology influences political discourse and how brand rivalries shape the industry.
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