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16 May 2018, 01:46 | Darnell Patrick
Kyodo News via Getty Images
The move to ease the sanctions sparked criticism from both Republicans and Democrats who said the leniency is undercutting Trump's get-tough approach to unfair trading practices by China and its theft of American technology.
"The failure to reach any agreement with the U.S. delegation rang alarm bells for manyChinese officials who used to be blindly optimistic", a source said.
The fate of the tech giant will be a driving force behind this next round of trade talks, which begin this week when Chinese Vice Premier Liu He leads a delegation to Washington on Tuesday. President Donald Trump has threatened tariffs on imports of Chinese goods, and China has threatened to retaliate with duties on United States products, including food items such as pork, beef and soybeans.
Relations between the United States and China have become fractious in recent weeks. The United States is considering imposing tariffs on up to $150 billion of Chinese products, and Beijing has countered with proposed tariffs on $50 billion in American goods, including soybeans and small aircraft.
The Wall Street Journal has reportedBeijing would back away from threats to slap tariffs on USA farm goods in exchange for easing the ban on selling components to ZTE.
The National Foreign Trade Council (NFTC) also warned that the imposition of unilateral tariff remedies proposed by the administration is "premature" and would "do greater harm than good to US economic interests".
"I don't know if they are close enough to close it out", Brady said.
Trump is seeking to cut the USA trade deficit by $100 billion and to garner new concessions related to sharing technology, a precondition to doing business in China that many companies have complained about. "I don't want to play anyone's hand", said Kudlow.
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How do you feel about this situation with Trump and China? What happened in April was a qualitative escalation as Washington put more emphasis on possible investment and other restrictions targeting the advanced sectors China is aggressively promoting through industrial policy. But instead of punishing these workers, they were rewarded with bonuses.
The Trump administration threatened ZTE's existence as a business last month, when the Commerce Department ordered the seven-year halt in US shipments of computer microchips and software at the heart of most of ZTE's gear.
Trump is signaling he's willing to give up the one piece of leverage that is actually getting the Chinese government's attention before receiving anything concrete in return.
"They are basically conducting an all-out assault to steal what we've already developed and use it as the baseline for their development so they can supplant us as the leader in the most important technologies of the 21st century", Rubio said at a Foreign Relations Committee hearing on Asia policy. -China business forum in Beijing.
Geopolitics usually comes in more when deals face explicit national security or other national interest objections, and since the mid-2000s China has been the target of such objections more often than the source.
Here are five companies that have high exposure in China that investors should be aware of.
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