While it's becoming increasingly clear that the US and China aren't trying to work out a "deal" on trade like Larry Kudlow and other members of the Trump administration have suggested - only to meet with denials from the Chinese - the White House isn't letting up on the pressure, Reuters reported.
To wit, the Trump administration has banned American companies from selling components to Chinese telecom-equipment manufacturer Zhongxing Telecommunications Equipment (ZTE) Corp. after accusing the company of lying during a settlement negotiation, according to Bloomberg.
Specifically, the Department of Commerce determined that ZTE had made false statements to the Bureau of Industry and Security during 2016 settlement negotiations and during its 2017 probationary period.
The company pleaded guilty last year in federal court in Texas for conspiring to violate US sanctions by illegally shipping US goods and technology to Iran.
ZTE paid nearly $900 million in fines and penalties, and an additional $300 million that could be imposed in the future.
The company had promised, as part of the settlement, to fire four senior employees and punish 35 others by either reducing bonuses or reprimanding them, Commerce Department officials told Reuters.
But the company admitted that, as of March, it had fired the four senior employees, but had not disciplined the 35 more-junior employees.
The punishment comes shortly after Trump blocked Broadcom's takeover of Qualcomm on national security grounds. The US is fighting to safeguard its technology as companies build the country's 5G data network. Treasury Department officials had expressed concerns about Qualcomm's technology falling into Chinese hands.
Shares of several ZTE customers, including Acadia and Oclaro, saw their shares plunge 15% and 25%, respectively, in early trade after the open.
Comments
...but continues to force more taxation to support the MIC and keep weapons flowing to Syria...
See the problem yet DEBT/TAX slave?
LOL!!!
"Full Faith and Credit"
same as it ever was!
Heads up....
The biggest “bombs” to be dropped this week will be the release of the list of items to be included in the USA’s additional $100billion China tariffs, and China’s response.
Ho yee fook, sun ting wong!!!
In reply to ...but continues to support… by LawsofPhysics
Proxy Israel can and does...
In reply to Heads up.... The biggest … by TheSilentMajority
When all else fails they take us to war.
Trade wars lead to Hot wars.
#maga
In reply to Israel can by Déjà view
Oceania has always been at trade war with Eastasia.
In reply to Heads up.... The biggest … by TheSilentMajority
Bullshit. The Chinese and American "elite" have been on the same page for 40+ years! They both want you to perform real work and face real risk in exchange for nothing but paper/digital promises that they create out of NOTHING with no real risk, no real work, and no real new collateral requirements!!!!
In reply to Heads up.... The biggest … by TheSilentMajority
Ho yee fuk sum ting wong
when the boat load of american rotting stinking garbage which was refused at the wharf by China gets back to the USA.
Then when american shitload of garbage accumulates day by day. Watch for it. No one else can take it because they dont have the expensive equipment to process it, neither can america cope with its own garbage.
This is not being mentioned.
In reply to Heads up.... The biggest … by TheSilentMajority
yes, unfortunately america these days is FULL of garbage...
In reply to Ho yee fuk sum ting wong… by keep the basta…
Right on Silent.
I felt the earth move under my feet
In reply to Heads up.... The biggest … by TheSilentMajority
what are you going to do about it? Vote? or Defend your libertarian contract with force?
yeah, I can see you made your choice.
Who cares that Obama murdered a 15 year old citizen without due process right?
In reply to ...but continues to support… by LawsofPhysics
Yes, Obama was another puppet you dumb fuck.
Good to see that divide and conquer still works on the weak minded.
"Full Faith and Credit"
same as it ever was!!!
In reply to what are you going to do… by E5
103, million dollar missiles to destroy 3 buildings after giving Syria a week to empty them, sounds cost effective to me.
In reply to ...but continues to support… by LawsofPhysics
Trade war not even started yet.
Then it becomes trading missiles.
In reply to Trade war not even started… by educated
Ending in trading radiation levels.
Still have to go some on that to beat Fukoshima!
In reply to Then it becomes trading… by silverer
Fukroshima?
In reply to Ending in trading radiation… by GreatUncle
Hm. That'll help the trade deficit, right?
You gotta love it when GEOTUS kicks the globalists square in the nuts.....but but but muh NAFTA....muh "free trade"
Since when does the US govt have jurisdiction to tell Chinese firms what they can or cannot sell to Iran? American hubris has peaked and is begging for a humiliating ending.
666
In reply to Since when does the US govt… by kanoli
We sell restricted technology to the Chinese with the caveat that they cannot resell to Iran / others ....
In reply to Since when does the US govt… by kanoli
China is an evolving technological nation now ... i.e. we built their production machine and paid for it and now they get to use it to develop better technology going forward if they cannot copy or purchase it. Bit like selling somebody a hammer/screwdriver they can now assemble a higher level of technology with the tools.
The restriction will drive them to use that hammer and screwdriver to make their own technology. China evolving this way now ... look at the reflection in the mirror! ... how the hell is the west going to drive the excessive cost predominantly of labor down to compete in the global market? $10 a day wages? Slavery is the only way.
The last part is the real challenge for the US whilst carrying a $21T and growing debt on its back.
If anything I see the driving of the labor cost down, bursts all the bubbles relying on this because there will not be a sufficiently high enough earnings to support the internally high price. FUCKED ... just like the rest of the west.
If right and they must realise this ... the last gasp option, trade war starts it is total global hegemony, the monopole and failing that in the final act the opposition has to be destroyed.
Nothing else for it or the economic bubble gets it! WE ARE WELL ON THE WAY and you are all invited isn't that kind?
In reply to We sell restricted… by Disgruntled Goat
Yay... Trump now moved to supporting the businesses of his new masters.
Fuck, China, just dump all your USD and get it over with.
I don't think the US will even get a deal with the EU and after may 1 the steel/al exemptions expire.
Chinese lying????? NO WAY!!!!
yanks are the world champion and olympic medallists for lying, followed closely by their british cousins...
In reply to Chinese lying????? NO WAY!!!! by CJgipper
everything is great.
So China will just copy/steal the hardware and software?
So now you are not allowed to sell the few things you do manage to
manufacture (that anybody wants or needs)
I still say nothing to them at all until they apologize for Tiananmen square and form a republic.
hahah so fuck off Americunt trash who funds and supports the head chopping jihadis in Syria.
Takea fucking hike you son of a bitch hypocrite
Shoooo,. Americunt trash., beat it punk
In reply to I still say nothing to them… by artvandalai
wow. You're right. So if you'll excuse me for a few minutes I need to cancel the $100 monthly withdrawal on my checking account that goes to the "I'm with Basher Foundation."
Where you get that all this from what I posted is beyond me and I'm sure beyond your keepers there at the funny farm.
In reply to hahah so fuck off Americunt… by ExPat2018
The USA supports the headchoppers in Syria
FACT
you need to grow a fucking brain ,kid
In reply to wow. You're right. So if you… by artvandalai
So someone that generally speaking supports a republic form of government over a communist form means they support Assad?
In reply to The USA supports the… by ExPat2018
Hey fuckface Ameritrash,.
You don't seem to like the Syrian Republic
In reply to I still say nothing to them… by artvandalai
..
In reply to I still say nothing to them… by artvandalai
Show me a Republic anywhere. The US was one about 150 years ago.
In reply to I still say nothing to them… by artvandalai
Syrian Republic
In reply to Show me a Republic anywhere… by silverer
A better answer than "USA". I accept it.
In reply to Syrian Republic by ExPat2018
.
In reply to Show me a Republic anywhere… by silverer
China should form a representative republic like the U.S and become even bigger liars. Ha
In reply to I still say nothing to them… by artvandalai
Another disturbing aspect of this post is the mention of the 5G system.
Mark of the Beast.
We already have 4G+ here in Europe
I have 300Mbs down and 200 up speed on my smartphone and PC
In reply to Another disturbing aspect of… by BandGap
Now China will turn its infinite workforce and highly skilled engineers educated in China and the USA into developing better switches at 1/3 less cost. Keep up the good work, USA. All you are doing is forcing countries to adjust, adapt, survive, and improve. They won't need their "mama" anymore.
China will turn its infinite workforce and highly skilled engineers
When US cut export of Intel processors to China, they developed their own processors.
China's latest supercomputer is a monolithic system with 10.65 million compute cores built entirely with Chinese microprocessors. This follows a U.S. government decision last year to deny China access to Intel's fastest microprocessors.
There is no U.S.-made system that comes close to the performance of China's new system, the Sunway TaihuLight. Its theoretical peak performance is 124.5 petaflops, according to the latest biannual release today of the world's Top500 supercomputers. It is the first system to exceed 100 petaflops. A petaflop equals one thousand trillion (one quadrillion) sustained floating-point operations per second.
Cutting them off of technology will be a mere short term inconvenience. They have the highest educated and number of engineers in the world.
US corporations moved there for that reason.
In reply to Now China will turn it's… by silverer
I believe TSMC is about to match Intel's process. Think about China designs with a "better than Intel" process!
In reply to China will turn its infinite… by Justin Case
Exactly what happened with being denied the latest Intel Xeon Phi accelerators for HPC. The Chinese just got to work and in record time have built the 'China Accelerator' co-processor which is now at least as good.
Same with the world's fastest computer by a mile. Sunway is 100% Chinese design - 260 cores on the die. Streets ahead of the #2 fastest computer, which is also Chinese.
Huawei is now probably the world leader in optical switching technology, 400G and even 800G+bps networking. At the other end Espressif came from nowhere in 2014 and has just shipped 100 million processors, with the ESP32 and 8266 WiFi on chip devices selling for peanuts and being seriously powerful. Their take-up is exploding to the point where the traditional players are now struggling to compete.
This whining about stolen IP is garbage. It almost certainly happened a lot in the past, but their latest stuff is staggeringly good.
Not only is not stolen, it's better.
In reply to Now China will turn it's… by silverer
I guess ZTE saw Bill and Hillary make false statements without repercussions to the U.S government so ZTE figured they would too.
What the heck, nothing happens to Hillary for lying to the U.S gov, so everybody should do it.
Pagination