CHINA/SANCTIONS/TECHNOLOGY/TRUMP AS PRESIDENT: “U.S. lawmakers who reached an agreement on a must-pass defense bill cut from the legislation a measure that would have made it harder for the president to undo sanctions slapped on China’s ZTE Corp (0763.HK), a top Democrat in the Senate said on Friday [7-20-18]. Lawmakers from both parties have been at odds with President Donald Trump over his decision to lift a ban on U.S. companies selling to ZTE, allowing China’s second-largest telecommunications equipment maker to resume business. The company had made false statements about disciplining 35 employees involved with illegally shipping U.S.-origin goods to Iran and North Korea, Commerce Department officials said. That led to a ban ordered by the department in April that forced ZTE, which relies on U.S. components for its smartphones and networking gear, to cease major operations. Top Senate Democrat Chuck Schumer said in a statement that he opposed stripping the provision out of the defense policy bill.”
-Reuters Staff, “U.S. lawmakers cut anti-ZTE measure from must-pass defense bill,” Reuters, July 20, 2018 9:28 am