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Trump, Xi Ease Trade Tensions With ZTE, Qualcomm Reversals

  • Chinese vice premier flying to D.C. on Tuesday for trade talks
  • Trump offered lifeline to Chinese telecom equipment firm
Bloomberg business news
Bloomberg Opinion columnist Tim Culpan discusses Trump’s reversal on ZTE.Source: Bloomberg
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The U.S. and China signaled a desire to avoid a costly trade war after President Donald Trump offered a lifeline to beleaguered telecom equipment maker ZTE Corp. and China’s Xi Jinping dispatched his top economic adviser to Washington.

Vice Premier Liu He -- who is Xi’s top aide for economic matters -- will travel Tuesday to the U.S. for trade talks with Treasury Secretary Steven Mnuchin, the Chinese Ministry of Foreign Affairs said Monday in Beijing.