US ZTE Ban | Pixr8 News

ZTE Corp, China's leading telecommunication equipment maker has signed an agreement in principle that would lift a US Commerce Department ban on buying from US suppliers, as informed from the sources. ZTE had to cease its major operations post a seven-year ban imposed on the company in April when it breached the 2017 agreement and was caught shipping goods illegally to North Korea and Iran. The U.S. action which was first reported earlier in March had turn devastating for ZTE as China’s second-biggest telecom equipment maker relied heavily on U.S companies such as Qualcomm and Intel for up to a third of its components. While ZTE has refrained itself from commenting on the matter, a commerce department spokesperson has said that "no definitive agreement has been signed by both part...

Chinese Multinational Agglomerate, ZTE was hit by a ban from Washington, forbidding U.S firms from supplying it with components and technology allegations of violating against U.S export restrictions by illegally shipping goods to Iran. The U.S ban which threatens to cut ZTE supply chain came amidst the heightened tensions over a possible China-U.S Trade War. The Chinese government too had raised the issue of the ban while visiting U.S trade delegation. In its exchange filings on Wednesday, ZTE said, "As a result of the Denial Order, the major operating activities of the company have ceased. As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject in compliance with laws and regulations." The U.S. action which was first reporte...

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China’s ZTE Signs US Agreement to put itself Back in Business

China’s ZTE Main Business Operations Cease after USA Ban