Wyden Statement on Announcement of Trade Deal with ZTE

WASHINGTON—Finance Committee ranking member Sen. Ron Wyden, D-Ore., issued the following statement in response to the Trump administration’s announcement that they have reached a deal to lift U.S. sanctions on the Chinese tech company ZTE:

“This deal is a loser for American security and a loser for American workers. The president and congressional Republicans must reverse this decision before it is too late. The Trump administration is giving ZTE and China the green light to spy on Americans and sell our technology to North Korea and Iran, as long as it pays a fine that amounts to a tiny fraction of its revenue. The president is making America less safe, creating jobs in China and securing nothing for American workers in return. The only question is whether this was the price of Ivanka’s trademarks and the $500 million loan to an Indonesian Trump development.”