Sat, Jun 09, 2018 - Page 10 News List

US, China conclude US$1.4bn ZTE deal

BACKLASH:US lawmakers on both sides of the isle denounced the deal and threatened to restore penalties on the company using legislative means to protect national security

AFP, WASHINGTON

However, Ross’ denial appeared to conflict with Trump’s own public statements.

In a tweet posted on May 14, Trump said that the ZTE deal was “reflective of the larger trade deal we are negotiating with China.”

US officials said that China last weekend offered to buy an additional US$70 billion in US goods to cut the trade deficit, on condition that Trump call off the planned technology sector tariffs.

The ZTE offer suggests that Beijing has made concessions to Trump on trade, but it remains unclear whether these are of equal value, Center for Strategic and International Studies trade expert William Reinsch said.

Beijing’s reported offer to buy US$70 billion in goods is “peanuts” compared with the US$200 billion cut in the US trade deficit with China that Trump has demanded, Reinsch said.

“It’s hard to believe there’s no linkage, but Ross clearly left Beijing without anything last weekend,” he said. “I think there’s another shoe to drop.”

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