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China denounces US export restrictions for smartphone maker ZTE
Starting Tuesday, export restrictions apply to all companies wishing to sell American products to the Chinese manufacturer ZTE. This would be due by ZTE violating an embargo against Iran. Calls on China to withdraw the measure.
ZTE The worldwide have current restrictions mean that first need to apply for an export license vendors ZTE, before they can send components to the telecom company. Reuters reports further that the Chinese Foreign Ministry is angry about the measure and does not agree with the fact that the US is invoking national laws to meet Chinese companies.
The ministry spokesman also admitted to Reuters know that the US is thus possible damage to trade relations between the two nations. As a result of the coverage has already halted the trading of ZTE shares on the Chinese exhibition. The company is the fourth largest smartphone vendor in the US with a market share of seven percent, reports The Wall Street Journal.
The newspaper writes further that the restrictions are likely to have a major impact as ZTE to supply chips for some smartphone models depend on Qualcomm and Intel. Perhaps the manufacturer would switch to products from Taiwan’s MediaTek.
The embargo against Iran prohibits the sale of US products to that country. ZTE would have violated the embargo because the company had plans to export some products back to Iran. There was already talk of a 2012 investigation by the US ZTEViewing:-149
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