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ZTE is now effectively back in business, following its payment of $892 million in penalties and placement of $400 million in escrow at a US bank. American firms may now sell products to the telecommunications giant again, ending what was supposed to be a seven-year ban sparked by the company’s selling of American technology to Iran and North Korea.
Removing the ban on ZTE was a key Chinese government demand amid escalating tensions between the world’s two largest economies. While those talks have stalled since the last high-level meeting in June, the U.S. and China have indicated their willingness to go back to the negotiating table. Neither is saying exactly what that would take.
Removing the ban on ZTE was a key Chinese government demand amid escalating tensions between the world’s two largest economies. While those talks have stalled since the last high-level meeting in June, the U.S. and China have indicated their willingness to go back to the negotiating table. Neither is saying exactly what that would take.