ZTE pays $1.4 billion penalty; US to lift ban

On Friday the U.S. Department of Commerce lifted its ban preventing China’s ZTE from receiving goods from U.S. companies

On Friday the U.S. Department of Commerce lifted its ban preventing China’s ZTE from receiving goods from U.S. companies

Led by Senator Marco Rubio, the letter strongly urges the committee to include the "Cotton-Van Hollen-Schumer-Rubio Amendment" in the final version of the NDAA bill, which would undo the lenient and forgiving deal the Trump made with China to protect the telecom giant, reportedly as a direct favor to Xi Jinping.

"ZTE should be put out of business".

Department of Commerce on Friday lifted a ban on USA companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business.

The Commerce Department in April banned United States companies from supplying ZTE with crucial components, forcing it to halt operations, after officials found further violations even after reaching a settlement in March of a year ago over the initial complaints.

ZTE is now allowed to receive shipments from its American suppliers, according to a notice published on the Bureau of Industry and Security website last week.

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If at any point ZTE does anything that harms the agreement, the $400 million will automatically be routed towards the U.S government and the ban will get back in place. The news came after markets closed in Asia. However, Trump later announced a deal with ZTE in which the Chinese company would pay a $1 billion fine for its trade violations, as well as replace its entire management and board by the middle of July.

ZTE are now faced with a ten year suspended ban on sourcing any United States parts or products.

The Commerce Department said Friday that these measures were the "harshest penalties and strictest compliance measures ever imposed in such a case".

Last week, a bipartisan group of senators introduced legislation that could reinstate some of the penalties on ZTE.

A US investigation into ZTE was launched after Reuters reported in 2012 that the company had signed contracts to ship hardware and software worth millions of dollars to Iran from some of the best-known USA technology companies.

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