| Clip Of Treasury Department Fiscal Year 2019 Budget Request

Secretary Mnuchin: Administration Not "Backpedaling" on ZTE Sanctions

Treasury Secretary Steven Mnuchin rejects the notion that the Trump administration is "backpedaling" on its plan to impose sanctions on… read more

Treasury Secretary Steven Mnuchin rejects the notion that the Trump administration is "backpedaling" on its plan to impose sanctions on Chinese smartphone maker ZTE. "This was not a quid-pro-quo or anything else," said Mnuchin testifying before the Senate Appropriations Committee on the agency's budget request. "This was merely President Xi asking President Trump to look into this, which he's done. Any changes to this will fully support the mandate of making sure our sanctions and our technology are protected." The Commerce Department is now reviewing "alternative remedies" to the ban on ZTE products, according to a recent speech by Secretary Ross at the National Press Club. Secretary Mnuchin declines to speculate on what those "remedies" might be. close

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