Commerce Department Eyeing $1.7 Billion Fine Against ZTE
ZTE may have to agree to a heavy fine and sweeping management changes if it wants to resume operations. The Trump administration is prepared to levy up to $1.7 billion in fines against the company to punish it for violating the terms of an earlier settlement. Further, the Commerce Department wants "unfettered site visits" to ensure that ZTE is using U.S. parts as intended. The company may also be required to bring in a wholly new management team. In April, the Commerce Department banned ZTE from using U.S. parts and software for its devices, effectively putting ZTE out of business. The company ceased major operations in May. Sources cited by Reuters indicate that final terms of the settlement are not set and may change. Despite the Trump administration's work to get ZTE back in business, some senators believe ZTE represents a security threat and deserved the punishment. They are working to keep the ban in place.
May 25, 2018
The Trump administration has handed ZTE an olive branch, according to sources cited by the New York Times and Reuters. The Commerce Department has brokered a deal that will allow ZTE to resume operations as long as it agrees to pay a substantial fine, submit to American compliance officers, and wholly change is management team.
Sep 18, 2018
A new bipartisan bill in the Senate would see ZTE smacked with heavy fines if it were to violate its settlement agreement with the U.S. ZTE reached an accord with the U.S.
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.
May 22, 2018
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.
Zhongxing Telecommunication Equipment Corporation
I still have their premium version of the Axon 7 as a backup phone.
Still a stellar phone!