ZTE Allowed to Return to Business
The U.S. Commerce Department has lifted its ban on U.S. companies doing business with Chinese phone and telecom equipment maker ZTE. The company can now resume operations, after all but shutting down since April due to the ban. The company is highly dependent on U.S. companies, including Qualcomm and Google, for its smartphone chips and software. The deal to lift the ban was done at the instruction of President Trump, and includes a $1 billion fine and a complete change of ZTE leadership. Today's action marks the end of a years-long saga that started when ZTE was caught selling equipment to North Korea and Iran in violation of a U.S. embargo.
US and China Working to Settle ZTE Ban, But Opposition Remains
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.
ZTE Runs Afoul of Commerce Dept., Facing Export Ban
Mar 6, 2016
ZTE has allegedly violated export rules to Iran and the U.S. Department of Commerce is prepared to restrict what American-made components ZTE is allowed to acquire.
Trump Says He's Trying to Help Save ZTE
May 13, 2018
President Trump took to Twitter this morning to suggest he's looking to recall the Commerce Department's ban against ZTE. "President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to get back into business, fast," wrote the President.
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.
Return to Business?