Economics
ZTE Has to Change Management for U.S. Reprieve, Kudlow Says
- Top White House economic adviser says ZTE not getting off free
- Trump said Sunday that U.S. sanctions on ZTE were too harsh
Trump, Mnuchin comment on ZTE
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Chinese telecom company ZTE Corp. will have to change its management, including by possibly appointing new board members, to win a reprieve from U.S. sanctions that shut it off from key suppliers, the director of the White House National Economic Council said.
“We’re not talking about letting them off scot-free by any stretch,” Larry Kudlow, President Donald Trump’s top economic adviser, said in an interview on Fox Business Network. “Commerce Secretary Wilbur Ross is having a second look at remedies. If there are any structural changes in their case they will be very harsh: Change of management. Change of board. Change of everything.”