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Navarro: Trump kept ZTE alive as ‘personal favour’ to Chinese president Xi
Posted by: Steve G.
Date: June 12, 2018 10:41AM
The Chinese fronting the $500 million to the Trump franchise in Jakarta certainly helped.*


Trump kept ZTE alive as ‘personal favour’ to Chinese president Xi
Company goes from rogue security risk to bargaining chip

By Simon Sharwood, APAC Editor 12 Jun 2018
[www.theregister.co.uk]
US president Donald Trump did the deal to keep telco kit provider ZTE in business as a favour to Chinese president Xi Jinping.

So said Peter Navarro, who’s in a position to know: he serves as assistant to the president, director of trade and industrial policy, and director of the White House National Trade Council.

Navarro revealed the favour in a Fox News interview interview on Sunday, in which he was asked “how do you explain the decision by President Trump to lift the sanctions against the Chinese telecom company ZTE after it had violated our sanctions, our ban on doing business with North Korea and Iran and was considered to be a serious national security risk? Why on earth would we do that?”

Navarro’s responded by saying secretary of commerce Wilbur Ross would be a better source for insight on “the details of what is a very hard negotiation … that was done” but added the following:

"The president did this as a personal favor to the president of China as a way of showing some goodwill for bigger efforts, such as the one here in Singapore."

“Singapore” is a reference to today’s talks between Trump and North Korean dictator Kim Jong Un and “bigger efforts” is a reference to ongoing negotiations between China and the USA over access to each other’s markets.

The USA effectively crippled ZTE by enforcing a seven-year embargo on it doing business with US companies for repeated violation of trade regulations. ZTE responded by putting itself into a corporate coma, until a deal saw the company submit to US demands that it pay a US$1.4bn fine, fire its board and allow compliance inspectors to crawl through its affairs 24x7.

Trump had previously vacillated between a desire to protect US jobs and using ZTE as a bargaining chip in trade negotiations.

Now it appears the US president is hoping his Chinese counterpart Xi Jinping will return the favour in some yet-to-be-revealed manner.


*
Oh, that’s right—according to multiple news outlets, the president’s total about-face on China came just 72 hours after the developer of a theme park outside Jakarta, known as MNC Lido City, with whom the Trump Organization has an agreement to license its name, signed a deal to receive $500 million in Chinese government loans, in addition to another $500 million from government banks. According to Agence France-Presse, the Trump Organization will rake in almost $3.7 million in licensing and consulting payments from Lido, along with another project in Bali. The company will also earn management fees, and be “eligible for additional unspecified incentives.” (Upon entering the White House, Trump turned over day-to-day management of the family business to his sons Donny Jr. and Eric, but chose not to divest himself financially from the company.)
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Re: Navarro: Trump kept ZTE alive as ‘personal favour’ to Chinese president Xi
Posted by: bfd
Date: June 12, 2018 06:14PM
Peter Navarro is a failed candidate for Mayor in "America's Finest City" … that should tell you everything you need to know about the fool. Couldn't even win a mayor's race in Enron By the Sea.
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Re: Navarro: Trump kept ZTE alive as ‘personal favour’ to Chinese president Xi
Posted by: MacArtist
Date: June 12, 2018 10:40PM
Quote
bfd
Peter Navarro is a failed candidate for Mayor in "America's Finest City" … that should tell you everything you need to know about the fool. Couldn't even win a mayor's race in Enron By the Sea.

That makes him a perfect assistant to Trump.



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