US Commerce Secretary Wilbur Ross says the US government has reached a deal with Chinese electronics company ZTE to lift trade sanctions that threatened to put the company out of business. Speaking on CNBC this morning, Ross says ZTE has agreed to pay a $1 billion fine, make changes to its executive team and board […]
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US export restrictions could force ZTE to find new chips
Chinese phone maker ZTE may be using fewer components from Qualcomm, Broadcom, and other US companies in the future. Reuters reports that the US Commerce Department plans to restrict exports of US goods to ZTE over allegations that the company violated US rules regarding shipments of products to Iran. If the restrictions stay in place, it […]