The Senate in defiance of the Trump voted to restore sanctions against China’s ZTE
Moscow. June 19. INTERFAX.RU — the U.S. Senate on Monday voted to restore sanctions against ZTE Corp., thus abandoning the agreement on the rescue of the Chinese telecommunications company, which concluded the President, Donald trump, writes The Wall Street Journal.
The decision to renew the ban on the sale of ZTE products, the American manufacturers of electronics and components is part of a larger bill on defense, the text of which will now have to agree with the House of representatives, its members approved the document in may, with no padding on the Chinese company.
“For” this bill spoke for 85 senators opposed and only 10.
As expected, trump will try to convince the conciliation Commission of both houses of the need to soften stance on ZTE.
On the evening of Tuesday a planned meeting of the President with representatives of the Republican faction of the house of representatives. Trump also may use a presidential veto.
The U.S. Department of Commerce claims that ZTE has repeatedly violated American sanctions. In addition, its telecommunications equipment supposedly can be used to spy on citizens and companies of the United States.
The value of securities of ZTE fell on Tuesday 25.1% in Hong Kong and in Shenzhen — the maximum allowable 10%. From 13 June, when he resumed trading in shares of ZTE, its market capitalization fell by 62%.
ZTE supplies telecommunication systems, mobile devices and enterprise technology solutions for companies, consumers and Telecom operators. The Chinese company ranked fifth in terms of revenue among global manufacturers of telecommunication equipment. It also produces complete range mobile devices including phones, tablets, mobile broadband modems and hotspots, as well as terminals for the integration of family computers. Its products are sold in more than 160 countries, the company’s partners are over 500 Telecom operators.