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Trump-Xi Agree "Tentative" Deal On ZTE Including $1.3 Billion Fine, Fox News Reports

Just hours after North Korea came creeping back to the negotiating table with President Trump – following his cancellation of the Kim Summit talks, comments that he suspected China was behind Kim’s change of heart, and chatter that Trump “would take a much harder line on China” –  Fox News reports that a “tentative” deal has been reached with China’s President Xi over the giant Chinese telecoms company ZTE.

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Trump reportedly got another call from Xi, who reiterated that many jobs would be lost if the U.S. refused to sell parts to ZTE.

Fox News reports that Trump and Xi have agreed that ZTE will pay a $1.3 billion fine

Xi offered $500m fine and to change ZTE’s management…

and Trump countered with a demand for management changes, security guarantees, and a guarantee ZTE will buy parts via U.S. companies.

It is tough to discern which of the “good friends” Trump and Xi has the upper hand right now.. and what is motivating Trump.

Source: zerohedge.com

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