A potential bill to prohibit ZTE Corp. (ZTCOY, -15.37%) and other Chinese telecommunications companies from operating in the U.S. would garner supermajority support in Congress, Republican Senator Marco Rubio said.
Rubio was responding to Trump’s proposal to allow the networking gear and smartphone maker to remain in business after paying a $1.3 billion fine, changing its management and board, and providing “high-level security guarantees.” The president has suggested the deal is a favor to Chinese President Xi Jinping as the two nations hold talks to prevent a trade war. But a bill like the one the senator’s proposing threatens to derail any agreement struck with Beijing. Continue reading “Trump Proposed a Deal to Let ZTE Stay in Business. Now Congress May Try to Ban Chinese Telecom Firms From the U.S.”

