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Congress Moving To Block Trump Deal With ZTE Over Iran Sanctions Violations

Congress Moving To Block Trump Deal With ZTE Over Iran Sanctions Violations

ZTE Corp's (000063.SZ) settlement with the U.S. Commerce Department that would allow China's No. 2 telecommunications equipment maker to resume business with U.S. suppliers was made public on Monday, days after the company agreed to pay a $1 billion fine, overhaul its leadership and meet other conditions.

The president's deal with ZTE would have forced the company to pay a $1 billion penalty, reorganize its company and allow US compliance officers in exchange for being able to sell its products inside the U.S.

"It's only prudent that no one in the federal government use their equipment or services and that they receive no taxpayer dollars", Sen.

ZTE has more than a dozen senior vice presidents, which is a level below executive vice president, said the company source who declined to be identified as they were not authorized to speak to the media.

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After wiping tears from his eyes, Rodman explained that he is continuing to advocate for peace between the two nations. Rodman said Trump's secretary had called him to say " Donald Trump is so proud of you, he says "thank you".

Florida Republican Sen. Marco Rubio added that the amendment was "Great news!"

But a number of USA lawmakers aren't satisfied with that agreement, saying the issue extends beyond punishment and is more about national security.

US Senate leaders from both side of the political fence are expected to vote later this week on an amendment to a bill that could block the agreement between the Trump administration and ZTE.

ZTE, with a market value of about $20-billion before its shares were suspended in April, is the world's No. 4 telecom equipment maker after Huawei Technologies, Ericsson and Nokia.

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Singapore was tapped to host the summit because of its neutrality and security, the White House had said in May. Both sides were finalizing preparations for the unprecedented summit, which was to kick off at 9 a.m.

Commerce Secretary Wilbur Ross was on Capitol Hill on Monday evening to speak with senators behind closed doors about the details of the ZTE deal, in a meeting that began shortly after the decision to include the amendment blocking the president's deal was announced.

The NDAA still has to pass the Senate and the House of Representatives must still agree to the defense bill with the measure included before it can advance.

"The fact that a bipartisan group of senators came together this quickly is a testament to how bad the Trump administration's ZTE deal is and how we will not shy away from holding the president's feet to the fire when it comes to keeping his promise to be tough on China", Schumer said.

Perdue's statement on Wednesday echoed concerns from the White House over including a provision blocking the ZTE deal in the defense bill. John Cornyn (R-Tex.). "There'll be a conference between the House and the Senate on the defense authorization bill".

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During his 2017 trip last June, Rodman presented a book titled "Trump: The Art of the Deal" to North Korea's sports minister. The President also clarified that North Korea's human rights record was not discussed during the meeting with Kim Yong-chol.