TRUMP’S DE­CI­SION ON ZTE IS DE­FENDED BY WHITE HOUSE

The Denver Post - - BUSINESS -

WASH­ING­TON» The White House on Wed­nes­day de­fended Pres­i­dent Don­ald Trump’s de­ci­sion to al­low Chi­nese tele­com gi­ant ZTE to re­sume buy­ing com­po­nent parts from the U.S. — a move the Repub­li­can-led Se­nate is work­ing to re­verse.

In a state­ment, White House spokesman Ho­gan Gi­d­ley pointed to “mas­sive penal­ties” im­posed on ZTE as part of what he de­scribed as a “his­toric en­force­ment ac­tion” by the Com­merce Depart­ment.

The changes, Gi­d­ley said, “will en­sure ZTE pays for its vi­o­la­tions and gives our gov­ern­ment com­plete over­sight of their fu­ture ac­tiv­ity with­out un­due harm to Amer­i­can sup­pli­ers and their work­ers.”

The deal, an­nounced last week, al­lows ZTE Corp. to stay in busi­ness in ex­change for pay­ing a $1 bil­lion penalty, re­plac­ing its top man­agers and agree­ing to let U.S. reg­u­la­tors mon­i­tor its oper­a­tions.

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