"But calm down, everything will work out!", - he wrote in Twitter.
President TrumpDonald John TrumpUS paid Trump's Scottish resort for VIP hotel stays: report Michael Avenatti tweets, then deletes, Fox News booker's phone number Former Trump aide working with Russian company to lift U.S. sanctions: report MORE on Sunday said the United States and China have a positive trade relationship despite previous unfair trade deals, adding that any issues "will all work out".
FBN's Connell McShane and Susan Li on the Trump administration's efforts to reduce the USA trade deficit with China and concerns of a potential recession by 2020.
U.S. officials accused ZTE of filing false reports about illegal exports of communications devices to Iran and North Korea.
ZTE, a smartphone and telecom equipment maker that does business around the world, announced last week that it has halted its main operations after the Trump administration banned American companies from selling it vital components. It was just last month that Commerce Secretary Wilbur Ross called ZTE's illegally sending equipment to North Korea and Iran "egregious behavior". But now, barred from using US microchips, software and other components, ZTE has been facing the prospect of being unable to manufacture its telecommunications equipment and smartphones.
The prospective shutdown of ZTE has been seen as major leverage in continuing trade discussions between China and the United States over Chinese trade practices.
Analysts are watching to see if Trump's conciliatory stance will help ease the tensions over trade between the USA and China.
ZTE's fiber-optic networks depend on U.S. components and its cheap smartphones sold en masse overseas are powered by USA chips and the Android operating system. "This egregious behavior can not be ignored".
In an April 16 statement, Commerce Secretary Wilbur Ross said ZTE made false statements the the United States government and "covered up the fact" that the company paid full bonuses to employees that had engaged in illegal conduct.
A U.S. blockade has choked off the revenue of the second largest Chinese telecom company, which regards the next two weeks as crucial as it faces potential collapse. As a result, the Trump administration barred US firms for seven years from exporting parts to ZTE, the fourth-largest smartphone manufacturer in China, including critical microchips.
Lacking critical equipment, ZTE halted operations, stressing in a statement Wednesday that it is "actively communicating with the relevant USA government departments in order to facilitate the modification or reversal" of the Commerce Department's order.
Republican Representative Robert Pittenger, a sponsor of legislation that would strengthen the U.S. national security review process for foreign investment, said after the Commerce ban was announced that the United States "must be vigilant against Chinese threats to both our economic security and national security". It's also the fourth largest provider of smartphones in the United States. Experts have since said the company could be circling the drain.
"This is entirely unprecedented", said Doug Jacobson, an export controls and sanctions attorney for Jacobson Burton Kelley who represents suppliers that do business with ZTE.
"Our intelligence agencies have warned that ZTE technology and phones pose a major cyber security threat", said Adam Schiff, who is the senior opposition Democratic Congressman on the House Intelligence Committee. "ZTE made false statements to the U.S. Government when they were originally caught and put on the Entity List, made false statements during the reprieve it was given, and made false statements again during its probation". Oclaro, which earned 18 percent of its fiscal 2017 revenue from ZTE, fell 17 percent.