U.S. Backlash Against Chinese Tech Companies Could Backfire
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Hello, Shelly here. Judging by the surge in ZTE shares in recent days, investors seem to be feeling pretty confident the worst days are behind the beaten-down Chinese telecom maker that was injected into the middle of U.S.-China trade tensions. Not so fast.
Yes, the U.S. Commerce Department lifted a crippling seven-year supplier ban that threatened to shut down ZTE's business altogether. That’s after President Donald Trump promised to rescue China’s No. 2 telecom equipment maker as a personal favor to Chinese President Xi Jinping.