In the ongoing saga between the United States and Chinese telecom giant ZTE, President Donald Trump has directed Secretary Wilbur Ross and the U.S. Department of Commerce to grant a temporary, 30-day reprieve for ZTE, enabling it to procure vital American parts and software so it may resume its operations.
In essence, this latest action is nothing less than a stay of execution. The seven-year export ban imposed by the Commerce Department’s Security and Enforcement Bureau on April 18 plunged the company into crisis resulting in the immediate shutdown of its assembly lines and curtailment of its operations. Continue reading “Trump gave the giant Chinese cellphone maker a stay of execution”