ZTE crashes after Senate passes a Trump deal killing bill
Okay so this happened tonite...the senate passed a defense authorization bill to the tune of 707 billion dollars. Some senators were successful in attaching an amendment which will reimpose the White House’s original ban on ZTE buying components from US firms.
This will cause a standoff with the Trump administration, which wanted to “fix” the problem in trade negotiations with China.
The House had already passed similar legislation, and now the Senate is saying they plan to reconcile the two bills by the end of July.
Then the legislation goes to Trump to sign or veto.
ZTE, which in recent weeks has been on life support, fell another 15% on this news.
Bipartisanship is not dead? The measure to reinstate the sales ban was led by Tom Cotton (R) of Arkansas, Chuck Schumer (D) of New York, Chris Van Hollen (D) of Maryland, and Marco Rubio (R) of Florida.
The Wall Street Journal has a pretty comprehensive first look story up. Good to know there is some spirit of fight left in the Senate against something Trump wanted. I just would like to know why they seem to be all about working together on this right at this moment.
I would like to think Republicans are fearing for their political lives right now, and are thinking they better pass something that would help them stay alive, and give them an argument that “hey, we do so stand up to Trump”. But the cynic in me says “nah, that can’t be it. Gotta be more to it than I can see”. Would like to hear from any experts on this! FROM THE SITE (CLICK HERE)