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We caught them, not anybody else, we caught them doing bad things. shutting them down, we're hurting a lot of american companies. what i envision is a very large fine of more than a billion dollars, could be a billion three. i envision new management and new board and very, very strict security rules. i also envision that they will have to buy a big percentage of their parts and equipment from american companies. >> this comes as the senate banking committee voted 23-2 to make it harder for a president to modify penalties on chinese telecommunications firms. joining us, political reporter la...

Shutting down this massive phone company. so what i envision is a very large fine of more than a billion dollars. could be a billion three. i envision new management, a new board, and very, very strict security rules. and i also envision that they will have to buy a big percentage of their parts and equipment from american companies. okay? thank you all very much. thank you. all right. reporters still shouting questions, but the president wrapping up a lengthy exchange there with president moon answering a whole bunch of questions from reporters for nearly a half an hour given the translatio...

Tremendous amount of equipment and parts for their telephones. as you know, they are the fourth largest in the world. and they buy them from american companies. so immediately when i looked at it, it was my administration that closed them down. but when i looked at it, i said you know, they could pay a big price without necessarily damaging all of these american companies which they are because you know you are talking about tremendous amounts ever money and jobs to american companies. so i envisionever money and jobs to american companies. so i envision a very large fine, i envision perhaps n...

Shutting down this massive phone company. so what i envision is a very large fine of more than a billion dollars, could be a billion-three. i imagine a new management, new board and very strict security rules and i also envision that they will have to buy a big percentage of their parts and equipment from american companies. >> with me now cnn senior economics analyst steven moore back with us, a former trump economic adviser. and also with me peter barnard. peter, listening to the president that this would benefit american companies, is that spin or is it truth? >> it really completely contra...

Some ideas to keep them in business. >> i envision a very large find of more than a billion dollars. could be a billion .3. i envision new management, new board, very strict security rules and i envision they have to buy a big percentage of their parts and equipment from american companies. >> treasury secretary steven mnuchin was pummeled with questions about zte on capitol hill today. after conversations with president trump, the senate minority leader came away worrying that the president will go soft on zte to keep xi jinping happy. >> we are pressing the president to stand firm, not to le...