Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

President Donald Trump Takes About-turn to Save Jobs at Chinese firm ZTE

Moupiya Dutta
Moupiya Dutta
She finds it interesting to learn and analyze society. she keeps herself updated, emphasizing technology, social media, and science. She loves to pen down her thoughts, interested in music, art, and exploration around the globe.

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

It’s been a rough couple of months for ZTE, as the after-effects of a US export ban have resulted in the company effectively. Now, President Trump, in a much-unpredicted move, says he’s working to put the company back in business.

ZTE (ZTCOF), a smartphone and telecom equipment maker, announced last week that it had halted its main operations after the Trump administration prohibited American companies from selling its vital components. That includes the Snapdragon processors in the company’s smartphones and even potentially Android itself. Obviously a really tough situation for the company.

Trump says that he’s working with President Xi Jinping of China to get the company back on its form. Jobs in China are at risk, he said. “Too many jobs in China lost. Commerce Department has been instructed to get it done!” – Trump’s tweet on Sunday.

The Chinese government welcomed Trump’s comments. “We very much appreciate the positive statement from the US side on ZTE and maintain close communication with them on the issue,” Foreign Ministry spokesman Lu Kang alleged Monday.

The Chinese corporation employs about 75,000 people. It’s also the fourth largest supplier of smartphones in the United States. Last month, the Trump administration jammed American firms from selling parts or providing services to ZTE until 2025. The ban was set after Washington said ZTE violated a deal struck last year in which ZTE settled to pay a $1.2 billion fine for violating US sanctions on Iran and North Korea.

Trump has continually blasted China for what he calls inequitable trade practices, and an alarming trade war between the United States and China has been punctuated by both nations threatening billions of dollars worth of tariffs against the other. And on Sunday, Trump appeared to ease the rhetoric, it’s largely unclear what that means, but it could end with the export ban being loosened to some extent.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic