Donald Trump said earlier this week he ordered a reconsideration of penalties against ZTE as a favour to China’s President Xi Jinping. A deal on ZTE has broad implications beyond the woes of the company. It is a great deal ... for #ZTE & China,” Senator Marco Rubio, a Florida Republican, tweeted on Friday. It’s unclear if Congress will be able to muster veto-proof majorities needed to block the president on ZTE. The Trump administration has pushed China to help cut the $376 billion trade surplus with the U.S, with Beijing so far making only vague commitments to buy more US goods, including farm products and energy.

Source: Mint May 26, 2018 06:45 UTC