*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).

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More