Well that was a roller coaster ride. After months of back and forth, the US has lifted the ban that prohibited US companies from selling goods to Chinese electronics company ZTE. The trade restrictions were put in place in response to ZTE violating US sanctions against Iran and North Korea… and then failing to comply […]
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Lilbits 318: US throws ZTE a lifeline (after almost drowning it)
After banning US companies from selling goods to ZTEÂ in April, causing the Chinese electronics company to basically suspend most operations, the United States Department of Commerce has signed an agreement with the company that could lead to the sanctions being lifted. The company reached an agreement with the Commerce Department last month that includes ZTE […]
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Maybe US sanctions will put ZTE out of business after all (or maybe not)
The fate of Chinese electronics company ZTE is still up in the air. After imposing a trade ban that would have prevented US companies from selling goods to ZTE… which would have made it very difficult for the company to survive, earlier this month the US Commerce Department announced it had reached a settlement that […]
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ZTE to pay $1 billion fine to have US trade sanctions lifted
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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ZTE to pay $892 million to US after breaking Iran sanctions
Remember last year when it looked like the United States government was going to block ZTE from obtaining components from US suppliers? Instead the Chinese smartphone maker has agreed to plead guilty to charges that the company violated US sanctions by selling products with American-made technology to customers in Iran and North Korea. As part […]