U.S. Ban On China's ZTE Lifted

Jul 13, 2018

According to Reuters, the U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp. This will allow China’s second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account. The company was no longer on the Commerce Department’s “denied persons list” as of Friday.