Tuesday, 3 August 2021

US lifts ban on suppliers selling to China’s ZTE

REUTERS: The U.S. Department of Commerce lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China’s second-largest telecommunications equipment maker to resume business.

The Commerce Department removed the ban shortly after ZTE deposited US$400 million in a U.S. bank escrow account as part of a settlement reached last month. The settlement also included a US$1 billion penalty that ZTE paid to the U.S. Treasury in June.

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