United States China-ZTE story

2017 shows U.S. President Donald Trump and Chinese President Xi Jinping at their joint press conference at the Great Hall of the People in Beijing. ==Kyodo

Liu's trip to Washington follows a visit by Mnuchin and other US officials to Beijing earlier this month, where they conveyed a demand that China slash its trade surplus with the U.S.by $200 billion by the end of 2020.

Bill Evanina, the director of the National Security and Counterintelligence Center, a federal counterspy agency, said in a Senate hearing Tuesday he would not recommend that anyone in government or the private sector use ZTE phones over electronic spying concerns.

White House spokeswoman Lindsay Walters confirmed United States officials were in talks with China about the company, saying that Mr Trump expects Commerce Secretary Wilbur Ross "to exercise his independent judgement, consistent with applicable laws and regulations, to resolve the regulatory action involving ZTE based on its facts".

"Stay tuned!" Trump said in a Twitter message.

ZTE announced last week the US sanctions would force it to curtail major operations. Too many jobs in China lost.

The negotiations would also ease roadblocks in China faced by a US semiconductor company Qualcomm Inc., whose proposed acquisition of NXP Semiconductors NV of the Netherlands has been held up by Beijing.

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Referring to Liu's visit, Lu said China was willing to work with the U.S.to "strive for positive and constructive outcomes from the next round of economic and trade discussions". "Stay tuned!" Trump tweeted on Tuesday. According to IDC data, ZTE sources more than 40 percent of its components from the USA, creating a multibillion-dollar revenue stream for suppliers like Qualcomm and Intel.

Despite now ceasing main business operations, China's second biggest telecom equipment maker is still trying to have the ban modified or reversed. ZTE has asked the department to suspend the seven-year ban on doing business with USA technology exporters.

But Trump set a more reassuring tone in a separate tweet Sunday, saying the two economic giants were "working well together on trade, but past negotiations have been so one sided in favor of China, for so many years, that it is hard for them to make a deal that benefits both countries".

As part of this, they also entered into an agreement with the United States government. By cutting off access to US suppliers of essential components such as microchips, the ban threatens ZTE's existence, the company has said.

ENERGY: Benchmark U.S. crude oil gained 13 cents to $71.09 a barrel in electronic trading on the New York Mercantile Exchange.

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