290: Chapter 290 Ministry of Commerce Press Conference! Reciprocal Countermeasures

"4.5 billion, not a cent less."

"3.8 billion, that is the bottom line."

However, Shen Fei shook his head slightly. If worse came to worst, he wouldn't sell Motorola; he wasn't going to budge a single cent anyway.

After all, once a sucker runs off, the next one isn't easy to find.

After more than half an hour of futile tug-of-war, Boss Liu looked at Yang Yuanqing and nodded.

"President Shen, you win. 4.4 billion, let it be 4.4 billion. Motorola's factory in the United States must also be given to us."

"Of course."

Shen Fei agreed very readily. Motorola still had a production base in the United States, but after Transsion's acquisition, that factory had already fallen into a state of de facto shutdown...

As for that headquarters building in the United States, although some of Motorola's official employees were still working there, the building had already been sold, and it was now being leased...

...

The signing ceremony was arranged in the hall of Transsion's headquarters, and every media outlet was scrambling to squeeze in... to film this simple signing ceremony.

Shen Fei and Boss Liu sat at a long table, signed the contract, exchanged documents, and then shook hands.

The reporters couldn't believe it.

Transsion had really sold Motorola at this time, but why didn't Boss Liu's expression look that happy?

Of course, this was the signing venue after all, so he didn't put on a bitter face; instead, he cooperated very well for the photos, wearing a stiff smile on his face.

"President Shen, is Transsion giving up on the global market by selling Motorola?"

"Transsion has never given up on globalization. We are selling Motorola because Lenovo needs it more. Transsion has its own brand, and due to current issues, there have been some changes in our business..."

Hearing Shen Fei say this, Boss Liu's mood improved a lot.

This kid had some ability to build such a large industry, but this feeling of forcing someone to like something was really good. If the price had been cheaper, it would have been even more comfortable.

"Lenovo and Transsion are models of cooperation between Chinese enterprises. We will do a good job with Motorola and not let down Transsion's trust..."

#Transsion Sells Motorola for 4.4 Billion#

#The Biggest Bargain in History#

Some digital bloggers were also touting Lenovo's foresight while belittling Transsion's short-sightedness.

After all, Motorola was a goose that laid golden eggs, bringing huge profits to Transsion every year, yet it was sold for 4 billion.

Most importantly, the money Transsion spent on the acquisition back then was over 10 billion, and it had only been a year or so... Everything had returned to zero, resulting in a direct loss of 6 billion.

Just as Chinese netizens were expressing their opinions, everyone at the United States Department of Commerce breathed a sigh of relief.

Secretary of Commerce Bryson saw the news in his office and finally set aside the worries in his heart.

Their plan could be considered a partial success!

"Transsion sold Motorola, and they sold it to Lenovo. Although it is an enterprise associated with the Chinese government, Boss Liu is a man who understands the big picture. It is good news that Motorola has fallen into his hands."

"Then should we add more sanctions?"

Bryson rubbed his lower lip with his fingertips, his smile deepening a bit. No one knew if he was being snarky or just perfunctory.

But he was indeed anxious inside. After all, the President's order to him was to stop the operation and rescind the order as soon as possible, otherwise, it would lead to unimaginable consequences.

And the faction he belonged to ordered him to continue increasing sanctions while freezing all of Huaxin's assets in the United States as soon as possible, including invested shares...

Although he listened to the people behind him, he wasn't a fool.

He knew that once he issued this order, those people on Wall Street would make him end up like a certain historical figure from China, and he would experience that outcome while still alive.

[Shang Yang: Are you being polite?]

"Not for now. Business has already made concessions, so we must also give China some face to avoid further escalation."

What he didn't know was that Shen Fei said something to Huang Tianya after the signing ceremony.

"Motorola is sold, and Transsion can travel light. Next, it's time to let the United States see what real countermeasures are. And we just need to get ready to watch the show."

September 15th, the third day after the Motorola signing, the Department of Commerce of China held an ad-hoc press conference.

The time for the press conference was chosen at 3 PM on Friday, before the United States stock market opened; this had been carefully calculated.

Department of Commerce spokesperson Shen Danyang walked onto the stage, his expression not as serious as usual press conferences, but rather beaming.

But the Chinese reporters in the audience felt a chill; after all, whenever something is abnormal, there must be a demon!

Especially that smile under these circumstances! Oh no, the conservatives aren't making a move again, are they!

"Members of the media, today the Department of Commerce is releasing two investigation announcements."

The announcement titles appeared on the big screen:

First, initiating an anti-monopoly investigation into semiconductor products originating from the United States.

Specific companies include Qualcomm, Intel, AMD, etc. Please see the appendix for the detailed list.

The reporters in the audience typed on their keyboards rapidly, but before they could finish, the second one was even more terrifying.

Second, initiating an anti-dumping investigation into agricultural products originating from the United States. The products involved include soybeans, corn, wheat, etc...

The spokesperson didn't offer any explanation either, saying very bluntly: "Relevant departments in the United States have abused the Entity List and undermined global fair regulations. Relevant departments in China have the right and responsibility to safeguard the legitimate interests of Chinese enterprises."

The announcement was that simple, but the content within was substantial.

After the presentation, it went directly into the Q&A session. The reporters became excited, especially those who had received questions in advance.

"Spokesperson Shen, are these two investigations related to the United States' sanctions on Transsion?"

"All of China's trade policies are based on international rules and Chinese laws. It is not directed at any specific enterprise or event. Alright, next question."

That reporter wanted to speak again, but the right to ask questions was gone.

...

When the news reached the United States, it was 3 AM, but the stock and futures markets had already begun to react.

Dow futures fell by 2%, and Nasdaq futures fell by 4%.

Qualcomm plummeted 7% pre-market, Intel fell 5%, AMD 6%, and Apple, which was on the additional list, also plummeted 3.56%.

The most serious was the United States soybean futures, which hit the limit down directly.

After all, for the agricultural product of soybeans, the Chinese market consumed 27% of global production, of which about 81% needed to be imported...

Most United States farmers needed to rely on the Chinese market to survive.

The United States Secretary of Commerce was woken up by a phone call at 4 AM.

"Sec... Sec... Secretary, it's bad!"

The voice on the other end of the phone was stuttering, and Bryson couldn't hear clearly at all, but he had a bad guess in his heart!

It was just that the consequences of that matter made him unable to believe it, but soon his last shred of fantasy was completely shattered.

"Straighten out your tongue before you speak. What exactly happened?"

The voice on the other end of the phone changed to another one; this voice sounded slightly clearer but was still very panicked.

"Secretary, something big has happened. China has announced the initiation of investigations into semiconductors and agricultural products. A chain reaction has already started on the stock market."