Trump says China has 'much to give' in trade negotiations

U.S. President Donald Trump said on Wednesday that "nothing has happened" with China's ZTE Corp and that Beijing has "much to give" Washington on trade.

Trump on Monday had defended his decision to revisit penalties on ZTE for flouting U.S. sanctions on trade with Iran, in part by saying it was reflective of the larger trade deal the United States is negotiating with China.

"Nothing has happened with ZTE except as it pertains to the larger trade deal," Trump said on Twitter.

"We have not seen China's demands yet, which should be few in that previous U.S. Administrations have done so poorly in negotiating. The U.S. has very little to give, because it has given so much over the years. China has much to give!"

U.S. lawmakers on Tuesday rejected any plan by Trump to ease restrictions on ZTE, calling the telecommunications firm a security threat and vowing not to abandon legislation clamping down on the company.

"There has been no folding as the media would love people to believe, the meetings haven't even started yet!" Trump said in tweets on Wednesday.