It has since said that it has suspended its main business operations.Trump's tweet was reposted widely by ZTE employees on social media with comments expressing relief, taking it as a sign of a an impending settlement."Wow! Breaking good news!" a ZTE manager wrote on her WeChat account, pointing to Trump's remark that the U.S. "Commerce Department has been instructed to get it done". "In any case, there are probably going to be layoffs, if the company has to pay another big fine," said one employee, who declined to be named. He added that meetings were being held to discuss resumption of production.In response to a Reuters request for comment, ZTE's press department said it was preparing a statement.Edison Lee, an analyst with Jefferies, expressed caution about the news in a investors' note, saying that "it does not mean the tech-focused trade conflict between China and the US is over".Lee said Trump appeared to have made the move as a goodwill gesture at China's request in order for trade talks to continue and because he expected concessions from China.

Source: The Star May 14, 2018 07:41 UTC