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ZTE and USA reach an agreement to lift ban

The battle between the Chinese telecommunication equipment manufacturer and smartphone maker ZTE and the United States Department of Commerce is nearing its end. After many suspensions, fines and a total trade ban, now the DoC has announced on Twitter that the agreement is about to be finalized. The deal will see ZTE deposit $400 million into an escrow account and receive a notice for lifting the denial order.

Our statement on #ZTE and the escrow agreement: pic.twitter.com/w0Bbej1mAU— U.S. Commerce Dept. (@CommerceGov) July 11, 2018


ZTE was initially blocked from trading with US...

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