Senate Passes Bill To Crack Down On Smuggling Of U.S. Chips To China

Any remaining money from the fines would be remitted to the U.S. Treasury, the report states.

This comes after President Donald Trump’s high-stakes summit in China earlier this month.

Trump announced that Chinese President Xi Jinping agreed to purchase 200 Boeing jets during their high-level meeting in Beijing.

In an exclusive interview with Fox News host Sean Hannity, Trump described his discussions with Xi as “very good” and stated that the commitment from China exceeded Boeing’s expectations.

Terms of the announced agreement, such as the type of aircraft ordered and delivery timelines, were not disclosed, Fox Business noted.

Trump arrived in China on Wednesday with a delegation of prominent American business leaders to meet with Chinese officials and executives.

The trip marks Trump’s first visit to the country since 2017 and occurs amid rising tensions over trade, artificial intelligence, Taiwan, and the repercussions of the war with Iran.