'Be Cool!': Trump Offers Words Of Wisdom On Trade Talks With China

US Bans American Companies From Selling to China's ZTE

President Trump just saved embattled Chinese phone maker ZTE

"President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast, " Trump tweeted.

President Donald Trump on Sunday expressed confidence that the USA and China would be able to get over their differences on trade, saying that both governments are "working well together" on the issue.

"Too many jobs in China lost", Trump tweeted. ZTE added that the company continues to communicate with the US government with the goal of modifying or reversing the order.

In 2016 the Obama administration announced that it was punishing the company for its alleged sanctions violations by restricting the sale of key USA exports to ZTE, but weeks later it suspended the punishment after the telecom equipment maker agreed to work with US authorities.

"As a result of the Denial Order, major operating activities have ceased", the company said in a Hong Kong Stock Exchange filing.

"If evidence now exists to implicate ZTE, we believe it is appropriate for Commerce to take immediate action", the lawmakers wrote in the letter, which was addressed to secretaries of President Barack Obama's Treasury, Commerce and State departments.

The month before, ZTE pleaded guilty in federal court to illegally selling and shipping American products to Iran.

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In trade talks in Beijing earlier this month, China asked the United States to ease crushing sanctions on ZTE, according to people with knowledge of the matter.

Companies in the United States are estimated to provide up to 30% of the components used in ZTE's products, which includes smartphones and complex equipment for telecommunications networks.

At the time, the company said it was still assessing the impact of being placed on the Commerce Department's blacklist.

ZTE is not among Qualcomm's publicly disclosed largest customers, which include Apple Inc, Samsung Electronics Co Ltd and Chinese smartphone makers Oppo and Vivo.

During a meeting with seven high-level members of the Trump administration last week in Beijing, Chinese officials reportedly brought up the ZTE crackdown and urged the U.S. to ease up.

For instance, MTN, a South Africa-based wireless carrier with 220 million customers throughout Africa and the Middle East, said the possibility ZTE would collapse forced the carrier to develop contingency plans.

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