And the latest reports out of China are that the globalist Mnuchin is leading negotiations to keep ZTE in business in exchange of lifting the threat of tariffs on USA agricultural exports. "That's an area where we will be exploring very, very promptly". But as it was not, Hamilton contended, the US should protect its industries with tariffs, while supporting them with "bounties" - government subsidies.
"Offering to trade American sanctions enforcement to promote jobs in China is plainly a bad deal for American workers and for the security of all Americans", Senate Minority Leader Chuck Schumer of New York, Sen.
Earlier today (May 14), Secretary of Commerce Wilbur Ross told reporters that the United States might consider alternatives to banning ZTE from doing business with USA suppliers, though he didn't go into detail on what those options might be. But even here he is backing off, and his policy is now created to achieve one goal: "make China great again".
What Trump did not mention, however, is that two days before his first tweet about ZTE, "a state-owned Chinese construction company called the Metallurgical Corporation of China announced it would float a $500 million loan to Indonesian developers to facilitate the construction of a vast "integrated lifestyle resort" called MNC Lido City that includes Trump-branded hotels, residences, and a golf course", as Vox puts it.
Shah also pushed back on the idea that Trump was retreating from his campaign promise to be tough on China.
"I've never seen a president step in and reverse an agency decision like this".
ZTE announced last week the US sanctions would force it to curtail major operations.
Sen. Marco Rubio (R., Fla.) criticized the plan to ease sanctions on ZTE and said the company has benefited from the theft of American technology.
"Having noted China's great concern about the case of ZTE, the US will listen attentively to ZTE's plea, consider the progress and efforts ZTE has made in compliance management and announce adjustment to the export ban", the document states.
As any Trump Administration cabinet secretary with an instinct for self-preservation would do, Ross came down hard on ZTE, issuing a seven-year import ban that appeared likely to put the firm and its 70,000 employees out of business.
"He didn't get up one day and go, 'I think I'll change my mind on ZTE.' I think it's part of a larger issue, and part of a larger set of negotiations", Kennedy told reporters.
Republican Representative Mac Thornberry, chairman of the House Armed Services Committee, said at a Bloomberg event on Tuesday he did not expect lawmakers would seek to remove a ban on ZTE technology from a must-pass annual defence policy bill making its way through Congress.
China was asked to foreswear its World Trade Organization rights to challenge US trade protection, a request that commentators in China likened to the "unequal treaties" imposed on China by imperialist powers in the 19th century. Beijing-based economist Hu Xingdou says China has practiced them to some extent for two or three decades. "We are now in close communication over details of the implementation". Negotiations are continuing this week in Washington as China's vice premier, Liu He, is visiting with senior White House officials. "This egregious behavior can not be ignored", Ross said last month.