US and China Working to Settle ZTE Ban, But Opposition Remains
The U.S. and China are near to reaching a deal that would offer ZTE reprieve from the seven-year ban enacted against it by the Commerce Department. Sources cited by the Wall Street Journal and Reuters suggest the negotiations are close to complete, but not finalized. Under the framework of the new deal, ZTE will have to pay a penalty and largely change the makeup of its board of directors and other leadership posts. The company was banned from using components and software from the U.S. because it violated an earlier settlement regarding its illegal sale of goods to Iran and North Korea. As a result, ZTE has largely been put out of business. The company has some 75,000 employees, mostly in Shenzhen, China. The talks come as President Trump's administration tries to hammer out a broader trade deal between the U.S. and China. Some congressmen are not happy with Trump's stance, as the Commerce Department believes its action was a fair penalty for illegal behavior. Republican Senator Marco Rubio blasted Trump's moves. "Making changes to their board and a fine won’t stop them from spying and stealing from us. But this is too important to be over. We will begin working on veto-proof congressional action," he argued via Twitter. On May 18, the House Appropriations Committee voted on an amendment that upholds the Commerce Department's sanctions against ZTE. Specifically, the amendment prevents the U.S. Commerce Department from renegotiating its sanctions against ZTE in order to prevent ZTE from gaining access to hardware and software from its U.S. suppliers. Other aspects of the Trump deal with China would see cuts in import tariffs for cars and car parts, and a change in the amount of U.S. agricultural products allowed into China. None of the parties involved commented on the matter, as any deal to lift the ban against ZTE has not been finalized.
House Committee Votes to Keep ZTE Ban In Place
May 18, 2018
The House Appropriations Committee this week voted on an amendment that upholds the Commerce Department's sanctions against ZTE. Specifically, the amendment prevents the U.S.
ZTE Agrees to Pay Massive Fine to Settle Export Violations
Mar 7, 2017
ZTE today said it has agreed to pay the U.S. government significant financial penalties for exporting technology to Iran in violation of sanctions against the country.
Trump Agrees to Talk to Congress About 'Problematic' ZTE
Jun 20, 2018
ZTE will be the topic of discussion at a meeting today between President Trump and members of the Senate and House of Representatives, reports Reuters. Trump wants to talk about the "problematic" amendment made to the National Defense Authorization Act (NDAA) earlier this week, which will keep certain sanctions against ZTE in place.
ZTE Prepping Overhauled Board to Get Past US Ban
Jun 29, 2018
ZTE is nearly ready to install a new board of directors, a step required by the U.S. Department of Commerce if the company wants to end the ban on U.S.