Shares of ZTE Corp and its American business partners took a hit on Tuesday after the US Senate’s passage of a defence bill set up a potential battle with the White House over whether the Chinese telecoms firm can resume business with US suppliers. The 85-10 bipartisan vote marked one of the few times the Republican-led Senate has veered from White House policy and came on the same day that US President Donald Trump threatened to impose a 10 per cent tariff on $200 billion of Chinese goods, escalating tensions between the world's two biggest economies. Trump is expected to lobby hard against the amendment to the National Defense Authorization Act (NDAA), and before it can become law the bill must be reconciled with one passed by the US House of Representatives that does not include the amendment.
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