Tuesday, May 15, 2018

Molly Molthan 5/7

http://money.cnn.com/2018/05/13/technology/business/trump-zte-corporation-china-commerce/index.htmli

President Donald Trump said in a tweet on Sunday that he's working to give China's ZTE "a way to get back into business, fast." ZTE, a smartphone and telecom equipment maker that does business around the world, announced last week that it has halted its main operations after the Trump administration banned American companies from selling it vital components. Trump's tweet said: "Too many jobs in China lost. Commerce Department has been instructed to get it done!" The White House later issued a statement indicating that Trump expects Commerce Secretary Wilbur Ross to exercise his independent judgment, consistent with applicable laws and regulations, to resolve the regulatory action involving ZTE based on its facts.
ZTE's current struggles have made it the most visible consequence for a trade war between the United States and China. Many people think it is good that Trumps is concerned about jobs in China, unlike Adam Schiff, a Democratic congressman from California, and tweeted: "trump should care more about our national security than Chinese jobs." This is will impact our country's history because Trump believes that China has unfair trade practices and the ban on ZTE is affecting American companies. This relates to the oil embargo in 1973 with the OPEC countries.

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