Trump is ‘reopening’ ZTE with US$1.3 billion fine and management changes – but US lawmakers aren’t happy
Trump is demanding management changes, ‘high-level security guarantees’ and other conditions
US President Donald Trump has announced that he will “let [ZTE] reopen” provided the Chinese telecom company pays a fine, and consents to staffing changes and other restrictions.
In tweets on Friday night, Trump said: “I closed [ZTE] down then let it reopen with high level security guarantees, change of management and board, must purchase U.S. parts and pay a $1.3 Billion fine.”
He also complained about political opponents, saying “[Democrat] Senator [Chuck] Schumer and Obama Administration let phone company ZTE flourish with no security checks.
“Dems do nothing but complain and obstruct. They made only bad deals (Iran) and their so-called Trade Deals are the laughing stock of the world!”
Trump’s plan is likely to upset many in the US Senate who are opposed to the removal of a seven-year ban on the company, which was placed after it lied about implementing reform measures imposed by the US Commerce Department for breaking sanctions on Iran.
Earlier on Friday, insiders told Bloomberg and The New York Times that the deal, brokered by the US Department of Commerce, would demand the company pay a “substantial” fine, accept American-selected compliance officers into its offices and change its management team.
