Trump's ZTE Reversal May Signal Shift in China Trade Talks
*By Alisha Haridasani*
President Trump's reversal on how to deal with the Chinese electronics maker ZTE could signal a shift in trade talks before American and Chinese officials were to meet Tuesday for a second round of negotiations.
China [reportedly](https://www.nytimes.com/2018/05/14/business/china-trump-zte.html) welcomed Trump’s decision to try to help ZTE "get back into business, fast," weeks after the U.S. slapped the electronics company with crippling sanctions. The Chinese Ministry of Foreign Affairs said Monday the government is “maintaining close communication with the U.S. on the implementation of specific details.”
"If both countries are working together, there's less of a probability that this could evolve into some sort of a trade war," said Anthony Chan, chief economist at Chase.
Trump [tweeted](https://twitter.com/realDonaldTrump/status/995680316458262533) on Sunday that he and President Xi Jinping of China were working together, and Trump instructed the Commerce Department to help ZTE. "Too many jobs in China lost," he said on Twitter. "Commerce Department has been instructed to get it done!"
Last month, the U.S. blocked American companies from doing business with ZTE because the electronics company allegedly violated sanctions against Iran and North Korea. ZTE, which makes mobile phones, relies heavily on components created by American companies in its products. The crackdown forced the company to shut down most of its operations last week.
Following Trump’s tweet, the White House issued an official statement saying Secretary of Commerce Wilbur Ross will, “exercise his independent judgement, consistent with applicable laws and regulations, to resolve the regulatory action involving ZTE.”
For full interview, [click here](https://cheddar.com/videos/trump-vows-to-save-zte-jobs).
Unpacking Jerome Powell’s surprise rate cut with Tematica Research CIO Chris Versace—what it signals, who wins, who loses, and what smart investors do now.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Oracle soars as it cashes in on the AI boom, Plus: Starbucks shares continue to fall under its new CEO, and does anybody actually want a new iPhone Air?
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
