Trump and Xi working on plan to save Chinese phone maker ZTE
After two years of assailing his predecessors for putting Chinese workers before Americans, President Trump today said he is directing his administration to reverse the effective shutdown of ZTE in order to save Chinese jobs.
The big picture: The Commerce Department banned American companies from selling parts to ZTE for seven years because the Chinese company violated U.S. sanctions by selling equipment made with American parts to Iran and North Korea. As a result of the sanctions, ZTE halted operations last week. Now, Trump says he's working with Chinese President Xi Jinping to save the Chinese phone maker.