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.
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.
Apr 16, 2018
ZTE is not allowed to export sensitive technology from the U.S. due to new action from the U.S.
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.
May 14, 2018
Wilbur Ross, the U.S. Secretary of Commerce, said his department is open to changing its ban impacting ZTE.
Return to Business?