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Trump says to 'stay tuned' as trade negotiations continue between US, China

Trump says to 'stay tuned' as trade negotiations continue between US, China

Ross, U.S. Trade Representative Robert Lighthizer and others were. "The gap is wide", he said during a speech at the National Press Club.

After ZTE failed to take action against company employees involved in the illegal exports, the Commerce Department last month banned US companies from supplying goods to ZTE for seven years.

Trump appears willing to work with China to help save ZTE - a move that could give him more leverage in ongoing trade discussions.

The United States is not seeking a trade war with China and top US officials are looking to make a deal with Beijing, White House economic adviser Larry Kudlow said on Tuesday as talks between the two nations were set to resume.

As of Monday, the USTR's Office has received over 2,700 filings of written comments regarding the administration's tariff approach, with major US business groups opposed to tariffs on Chinese products. Too many jobs in China lost. President Trump made a campaign promise to battle the U.S.'s trade imbalance with China and he has certainly been ratcheting up the pressure on America's biggest trading partner in recent months.

Negotiators from the USA and China are scheduled to meet in Washington on Monday, where, after months of trade tensions, Beijing is said to be open to purchasing a wider array of US goods and services.

But the U.S. says the Chinese firm breached that agreement, resulting in the current ban, which came as tensions increased between the USA and China on trade. According to IDC data, ZTE sources more than 40 percent of its components from the US, creating a multibillion-dollar revenue stream for suppliers like Qualcomm and Intel. Earlier this month China responded in turn, threatening to impose a similar amount in levies on over 100 United States imports including soybeans, and automobiles.

ZTE is known to rely on importing chips from United States firms such as Qualcomm and Intel for up to a third of its components. -China trade talks in Beijing earlier this month where the two countries failed to reach an agreement on the long list of USA demands. "Stay tuned!" Trump tweeted on Tuesday. Both sides had been expected to dig in for a fight over their trade imbalance at this week's talks. "So they can't say they don't know what we're asking for", he said.

Commerce Secretary Wilbur Ross last month accused ZTE of misleading the department and warned, "This egregious behavior can not be ignored".