The Senate wrecked Trump’s deal to save ZTE

ZTE ban Senate deal

Last week, ZTE came to an agreement with the US Commerce Department that will lift a ban that prevents it from buying parts from US suppliers. As a telecoms and smartphone company, ZTE would struggle to make products without using software from Google, processors and radios from Qualcomm, or any of the other parts that the US primarily supplies.

The ban was placed on ZTE to punish it for violating US sanctions. ZTE plead guilty to conspiring to violate US sanctions against Iran and North Korea in a US court last year. Under the terms of its guilty plea, ZTE paid $890 million in fines, and agreed to fire some senior staff, and strip bonuses from 35 others. Little of that happened, however, and the Commerce Department enacted a seven-year suspended ban against ZTE in retaliation. That’s the ban that President Trump and his Twitter account helped to remove.

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The Senate wrecked Trump’s deal to save ZTE originally appeared on on Tue, 12 Jun 2018 at 19:46:39 EDT. Please see our terms for use of feeds.

Source: FS – Phones – News
The Senate wrecked Trump’s deal to save ZTE