ZTE Not Out of the Woods Yet, Senate to Vote On Upholding Ban
ZTE's roller-coaster ride with the U.S. government has taken another turn. The Senate may vote on legislation this week that would negate the Trump administration's deal to get ZTE back to work. Last week the Commerce Department said it had reached an agreement with ZTE. Under the terms of the arrangement, the Chinese phone maker must pay a $1 billion fine, put $400 million into escrow, wholly change its top leadership within 30 days, an accept a U.S.-led compliance officer. The ban will remain in place until ZTE makes the payments, which it has yet to do. Republican Senator Tom Cotton and Democratic Senator Chris Van Hollen today introduced the measure, which would restore the penalties against ZTE, to the National Defense Authorization Act (NDAA), a bill voted on by the Senate every year. Reuters says the measure could be added to non-controversial portions the NDAA, or areas that don't come under heavy debate in the Senate. If the measure is passed in the Senate, it would have to be reconciled with the House of Congress' version of the NDAA and later signed by the President. ZTE was sanctioned for violating the terms of a 2017 settlement agreement over unlawful sales to Iran and North Korea. Beginning in April, the company was cut off from U.S.-made hardware and software for a period of seven years. The company has largely been idle since.
Senate Votes to Uphold ZTE Ban in Defense Bill
The Senate approved legislation that would see the ban against ZTE remain in place. The chamber on Monday voted in favor of the National Defense Authorization Act (NDAA), a bill passed by the Senate every year.
Trump Agrees to Talk to Congress About 'Problematic' ZTE
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.
Commerce Department to Fine ZTE $1 Billion
The Commerce Department has reached a deal with ZTE that will get the company out from under a ban on U.S. parts and software.
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.
Commerce Department Agrees to Let ZTE Get Back to Business
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.
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