BUSINESS/CHINA/NATIONAL SECURITY/TRADE DEALS/TRUMP AS PRESIDENT: “Lawmakers are moving to thwart Trump administration efforts to ease restrictions on Chinese telecommunications giant ZTE Corp. and other sensitive technology, citing fears the positions would compromise national security in the latest twist in trade negotiations between the world’s largest economies. The Senate Banking Committee unanimously approved legislation on Tuesday [5-22-18] that would tighten national-security reviews of Chinese technology deals by the interagency Committee on Foreign Investment in the U.S., strengthen export controls and prohibit the Trump administration from lifting stiff penalties imposed on ZTE. The U.S. and China recently agreed on the broad outlines of a deal that would allow U.S. companies to once again supply ZTE with components, lifting a ban that threatens to put the company out of business. The U.S. has accused the company of failing to punish employees who violated sanctions against Iran and North Korea, but President Donald Trump recently held out the prospect of a reprieve in a gesture to Chinese President Xi Jinping.”
-Kate O’Keeffe and Bob Davis, “Congressional Opposition Mounts Over White House Approach to Chinese Tech Deals,” The Wall Street Journal, May 23, 2018 8:11 pm