ZTE, one of China’s biggest tech companies, requests United States to suspend trade ban

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(FinancialPress) — One of the largest cell phone manufacturers in China, ZTE, is making a plea for President Trump to hold off on a ban that would harshly impact its business.

The ban in question would forbid North American companies from selling parts and services to the chinese company. They have submitted a request to hold off the order to the US Commerce Department.

ZTE (ZTCOF) has preemptively halted all of its operations in the US, citing impending supply scarcity due to the federal government‘s disposition.

The US Commerce Department slapped an export ban on the company after it came to light that the Chinese endeavor had lied when inquired about punishing its employees for violating US sanctions on North Korea and Iran.

Even with that explanation, pundits believe that the order is part of a wider plan by the US to put China‘s tech rally on ice.

Eurasia Group‘s Evan Medeiros notes that ZTE is not part of the intellectual property dispute that sparked the talks of a trade war between the US and China. However, it “represents the same nexus of tech and national security issues.“

President Trump has jumped to the frontline to defend ZTE, saying that its trade relationship with the US is equanimous. Because of that, he has started to work with Chinese President Xi Jinping to get the company‘s operations back into action ASAP.

ZTE chairman Yin Yimin has called the ban “unfair and unacceptable“, citing that it has brought massive disruption to its business model‘s sustenance. ZTE has American companies such as Intel and Qualcomm as some of their main providers.

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Ruben is a South American writer who focuses on the state of the cryptocurrency, cannabis and tech industries worldwide.

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