Sources have said earlier this week that the US government may soon lift its ban on U.S. firms supplying Chinese telecoms giant ZTE Corp.

In response, Bejing also announced that it will be cutting tariffs on car imports, a move that is sen to relieve some trade tensions between two of the world’s largest economies. Sources further said that the lifting of the seven-year ban may prompt China to remove tariffs on US agricultural products and increased purchase of other farm goods.

However, many in the government and the business sector said that the legal case against ZTE was merely being used as a bargaining chip in the trade war of the two superpowers.

 

Source: Reuters

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