from Hacker News

ZTE of China to Pay $1B Fine in Deal to End U.S. Sanctions

by kercker on 6/7/18, 1:31 PM with 56 comments

  • by devy on 6/7/18, 5:55 PM

    You'd be naive to think if ZTE were to go under will be at America's best interest. U.S. semiconductor industry as a whole will be impacted as ZTE is one of the largest mobile handset and networking equipment manufacturer.

  • by jorblumesea on 6/7/18, 7:09 PM

    I love how we are slapping sanctions on our allies and letting our adversaries in the backdoor. All the while complaining about IP theft from China. Sad!

  • by dashundchen on 6/7/18, 7:18 PM

    Meanwhile, a Chinese state investment puts $500 million dollars towards an Indonesian project heavily involving Trump properties, golf courses and branding.

    https://www.nationalreview.com/news/china-contributing-500-m...

    Peddling influence and using government for personal profit seems par for the course in this administration.

    https://www.salon.com/2018/05/16/trumps-bizarre-zte-tweets-p...

  • by martythemaniak on 6/7/18, 6:24 PM

    Trump's flipping around shouldn't be that surprising, but the wholesale abandonment or banishment of any independent thought from the Republican party is quite a (terrible) thing to behold.

    They claimed they were for "law and order" but the stand firm behind a criminal and want to take down the FBI and other agencies.

    They were for standing up to tinpot dictators, but are now fighting over who can suck up to Kim the best.

    They claimed they were for free trade and smooth business, but are now working hard to wreck the Western alliance.

    And let's not even try to get into the whole "family values" scam...

  • by prklmn on 6/7/18, 6:08 PM

    “Too many jobs in China lost” - Xi’s waterboy and president of the USA

  • by djrogers on 6/7/18, 8:50 PM

    So the outcome here is:

    - All key leadership and board memebers are to be fired and replaced within 30 days

    - US picked compliance team embedded in ZTE that the commerce department is reimbursed for by ZTE

    - $1B fine and $400M in escrow

    - Qualcomm / NXP deal seems likely to be approved, helping US jobs

    In the past we've seen other countries deal with Iran while under sanctions, and we've gotten nothing out of them other than speeches at the U.N.

    I kinda think I like this better.

    oblig disclaimer - I didn't vote for Trump, and I don't knee-jerk defend his actions...