USA and ZTE reach an agreement to lift ban - FEMTOP TECH
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USA and ZTE reach an agreement to lift ban

The trade battle between the United States Department of Commerce and Chinese telecommunication equipment manufacturer and smartphone maker ZTE seems to be coming to an end after so many trade bans, many suspensions, and fines.

USA and ZTE reach an agreement with to lift ban

The Department of Commerce and Chinese telecommunication equipment manufacturer and smartphone maker ZTE have finally come to an agreement to lift the ban, the Department of Commerce announced on the Twitter account yesterday. 

The new deal will also require ZTE to deposit $400 million to an escrow account and would the notification for the lifting of the denial order after the deposit has been confirmed. 

ZTE was initially blocked from trading in the US component manufacturers market because they breach the trade embargo between the United States and Iran.

The Chinese company deliberately imported high-frequency antennas with American chips in them. The ban could have been avoided if they own up to their mistake on time before US DOC found out that they deliberately ignored the trade embargo between the United States and Iran.

Subsequently ZTE was fined $800 million and an additional $300 million suspension fine, they were also told to completely overhaul their board of directors which the ZTE deliberately flaunted again which led them to stalemate, until a seven days ago when they decided to take comply with the requirement completely which led to both parties finally coming to an agreement to lift the ban.

With the new development,  some of the new ZTE smartphones such as Nubia Z18, Axon 9 and  Axon 9 Pro that was launched earlier this year, may finally be coming to the U.S once ZTE begins trading again.
Faith Emmanuel

Faith Emmanuel

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