Monday, May 28, 2018

Trump announces deal to lift export ban on ZTE

President Trump announced a deal to save ZTE by lifting the current export ban on U.S. products to the company. In exchange, ZTE is to pay a $1.3 billion fine, make changes to its management, and hire U.S. compliance officers.

As of Monday, there has not an official statement or posted order by the U.S. Department of Commerce lifting the ban.

The deal continues to face opposition in Congress, including from Senator Marco Rubio, a Republican from Florida, who is threatening legislative action to block the deal.

Trade negotiations between the U.S. and China are expected to resume in early June.



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