U.S. and China reportedly working on a deal to save ZTE

U.S. and China reportedly working on a deal to save ZTE

6 years ago
Anonymous $CLwNLde341

https://techcrunch.com/2018/05/22/u-s-and-china-reportedly-working-on-a-deal-to-save-zte/

The United States and China are said to be working on a deal that would keep ZTE from going out of business. According to the Wall Street Journal, the two countries have agreed on a “broad outline” of a deal to settle a trade dispute sparked when the Commerce Department banned American companies from selling to ZTE for seven years after it violated sanctions against Iran and North Korea.

If the deal goes through, the U.S. would lift the ban. In return, ZTE would have to make major leadership changes and also potentially face heavy fines. The deal would enable its business to survive, however, since many of its most important suppliers, including Qualcomm, are American and the ban has the potential to cause irreversible damage to its business. ZTE is also the fourth-largest vendor of mobile phones in the U.S.

U.S. and China reportedly working on a deal to save ZTE

May 22, 2018, 8:25am UTC
https://techcrunch.com/2018/05/22/u-s-and-china-reportedly-working-on-a-deal-to-save-zte/ > The United States and China are said to be working on a deal that would keep ZTE from going out of business. According to the Wall Street Journal, the two countries have agreed on a “broad outline” of a deal to settle a trade dispute sparked when the Commerce Department banned American companies from selling to ZTE for seven years after it violated sanctions against Iran and North Korea. > If the deal goes through, the U.S. would lift the ban. In return, ZTE would have to make major leadership changes and also potentially face heavy fines. The deal would enable its business to survive, however, since many of its most important suppliers, including Qualcomm, are American and the ban has the potential to cause irreversible damage to its business. ZTE is also the fourth-largest vendor of mobile phones in the U.S.