ZTE may live, as Trump administration reportedly reaches deal to revive it

ZTE may live, as Trump administration reportedly reaches deal to revive it

Trump's "Spygate" claims are made up Trump taps vocal anti-illegal immigration advocate for State Dept's top refugee job Seattle Seahawks player: Trump is "an idiot" for saying protesting National Football League players "shouldn't be in the country" MORE late Friday appeared to confirm that his administration had reached a deal to put Chinese telecommunications company ZTE back in business.

Reports have circulated for days that the Trump administration and Beijing were working to secure a deal to save the Chinese telecom giant, which was banned by the Commerce Department from buying tech components after ZTE violated USA sanctions by selling equipment to North Korea and Iran.

ZTE looked to be in dire straits when it ceased its business in the USA earlier this month after a Department of Commerce order banned US partners from selling components to the company in response to it flouting trade bans in Iran and North Korea.

Rubio's threat comes the day after the House voted to ban the US government from doing business with ZTE or any vendors who do business with ZTE.

Senate Minority Leader Chuck Schumer (D-New York) and Senator Chris Van Hollen (D-Maryland) have said Congress should stop Trump from letting ZTE do business in the US.

The telecom company has become entwined in high-stakes trade talks between the US and China.

U.S. President Donald Trump on Tuesday floated a plan to fine ZTE up to $1.3 billion and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.

After negotiating the terms, the parties have come to the tentative deal that is being reported Friday.

"Yes they have a deal in mind".

On Thursday, members of the House of Representatives, citing national security concerns, voted to ban government agencies from using ZTE technology and the Defense Department from renewing contracts with vendors that work with the company. "It is a great deal. for #ZTE & China", GOP Sen.

The White House did not immediately confirm news of the latest deal.

The ban was placed on ZTE after its management failed to comply with punishments imposed on them by the USA following around 40 of its employees selling "hundreds of millions of [US] dollars'" worth of routers, microprocessors and servers to Iranian entities in violation of the US's Export Administration Act of 1979. ZTE misled the Department of Commerce.

Congress, Rubio said, "will need to act". The Trump administration accused the company of violating the 2017 settlement after ZTE was caught shipping USA components to North Korea and Iran and ordered to pay a $900 million penalty.

The effect of the action, however, weakens the existing sanctions on ZTE.

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