U.S. reaches deal with China's ZTE, commerce secretary says

ZTE will reportedly pay total of $1.7B to lift US Commerce Department ban

The Trump administration has agreed to relax its punishment of Chinese telecom company ZTE, Commerce Secretary Wilbur Ross said Thursday.

Ross also said that a compliance team picked by the USA will be embedded at ZTE and that the Chinese company must change its board and executive team in 30 days.

The deal also forces ZTE to make changes to its management. WIthout access to these American companies, ZTE essentially can't do business.

One of the United States companies caught in the crossfire is Qualcomm Inc, whose products account for the lion's share of chips inside ZTE smartphones. Further, the sources added that the Commerce Department plans to amend its 2017 settlement agreement and count the $361 million ZTE paid as a part of that.

The United States has struck a deal with ZTE, ending a high-stakes dispute with China.

Total US penalties imposed on ZTE now amount to $2.3 billion, according to the Commerce Department. The gear maker pleaded guilty previous year in federal court in Texas for conspiring to violate US sanctions to Iran.

England claims World Cup warmup win over Nigeria
Arsenal's Alex Iwobi pulled one back for the visitors, who are also World Cup-bound, but England did enough to secure the victory. I thought it was an excellent performance with the ball - really good movement and interchange between the front four.

What's new for Siri in watchOS 5
There's also a new cadence metric (steps per minute), and a new pace alarm that alert users if they are behind their chosen pace. New episodes of your subscribed podcasts will be automatically synced, and you can also ask Siri for a specific podcast.

Trump says North Korea talks positive, expects Kim letter
North Korea's nuclear weapons programme has made significant advances in recent years and poses a threat to the United States. It was an effort that ultimately failed as Clinton's time in office ran out, and relations turned sour again after George W.

■ ZTE must pay a $1 billion fine plus $400 million in escrow to cover "any future violations". However, according to a report from Reuters, both ZTE and the usa government have reached an agreement that'll lift the Denial Order and allow the company to return to business as usual.

In mid-April, the United States Department of Commerce slapped ZTE with a Denial Order over an issue it had with USA sanctions in 2017. US President Donald Trump came under criticism for announcing last month that he would reverse the ban, with some lawmakers warning that payments do not address security concerns over Chinese telecommunications equipment.

If you'll recall, last month ZTE was handed an export ban as the result of not following the terms of a court case years ago. Separately, Qualcomm is trying to get Chinese approval for its pending $44 billion acquisition of NXP Semiconductors NV. The leading theory is that allowing the company to continue operating was a precondition for China's participation is discussions for a larger trade deal.

There was no immediate comment from the Chinese government on the ZTE agreement.

Yet it might not matter if the U.S.is first, Sanjay Dhar, a managing director at Accenture who worked on the report, recently told Wired. Oclaro got 18% of its business from ZTE previous year, while 30% of Acacia's total revenue was from ZTE.

The Chinese Commerce Ministry said Thursday that some progress was made in talks that ended last weekend.

Related news:

loading...

Hot News

isis-killer-beheading-video-story-top Scores more homes destroyed by lava flow on Hawaii's Big Island
Jun 07, 2018 - 02:12
Those who live or vacation in the area were mourning the loss of popular tide-pools where kids enjoyed swimming. Lava destroyed hundreds of homes in mostly rural Hawaii area overnight, a county spokeswoman said.

isis-killer-beheading-video-story-top Reasons Why England Can Win World Cup 2018
Jun 07, 2018 - 02:03
If people want to speak to me and likewise me with other people, the group is very tight in that way and everyone is approachable. We have only taken two (warm-up games) as we had some players in the FA Cup final and a couple in the Champions League final.

isis-killer-beheading-video-story-top Germany beaten by Austria 2-1 on Neuer's return
Jun 06, 2018 - 12:46
Team director Oliver Bierhoff insisted the slip-up does not reflect the quartet set to miss out on a place at Russian Federation . Germany chief coach Joachim Loew said: "It's a frustrating defeat because we didn't implement a lot of what we had talked about".

isis-killer-beheading-video-story-top Scott Disick And Sofia Richie Have Split
Jun 06, 2018 - 12:44
Well, someone may or may not have gotten a picture of the cheating and that picture may or may not have found its way to Richie. According to Us Weekly , the couple split up after Scott's cheating forced Sofia's father, Lionel Richie to intervene.

isis-killer-beheading-video-story-top Melania Trump appears for 1st time in 3 weeks
Jun 05, 2018 - 08:10
But over the past half century, it has become the expectation that people know the basic narrative of the first lady's activities. Trump wore a little black dress and matching Manolo Blahnik suede stilettos to the Gold Star families event at the White House.

isis-killer-beheading-video-story-top Senators want to know how Facebook shares data with device makers
Jun 05, 2018 - 08:01
The reporter discovered that one Blackberry app was able to acquire " identifying information " for up to 295,000 Facebook users. Still, Monday's announcements are another step in a brewing spat with Facebook over privacy and data collection.

isis-killer-beheading-video-story-top Trump lawyer Giuliani says president can probably pardon himself
Jun 04, 2018 - 20:28
Giuliani added that a subpoena of Trump is "unnecessary" because Mueller's team has everything they need already. He said that Trump wants to testify but that Giuliani and his team are leaning against recommending that.

isis-killer-beheading-video-story-top Apple Goes Silent, As Telegram CEO Accuses It Of Blocking Updates
Jun 04, 2018 - 20:22
Apple has apparently been preventing updates for Telegram users worldwide following the ban on the app in Russian Federation . A month later, Telegram continues to be available on the App Store . "Unfortunately, Apple didn't side with us".

isis-killer-beheading-video-story-top Merkel offers Macron concessions on eurozone reforms
Jun 04, 2018 - 20:20
She said she views Macron's idea of a joint intervention force "positively", but that many details would have to be worked out.

isis-killer-beheading-video-story-top Injured Kompany retained in Belgium World Cup squad
Jun 04, 2018 - 20:13
Martinez - whose side are in England's group - said he can call up a replacement until 24 hours before the Panama game. Dedryck Boyata has been included in Belgium's 23-man squad for this summer's World Cup finals in Russian Federation .

isis-killer-beheading-video-story-top Stream Kanye West's New Album 'ye' - Rap-Up
Jun 02, 2018 - 01:01
Not too long before you'll be able to give that thing a listen yourself. "And I'm just the person to do it". Kanye West has debuted his new album, Ye, after months of volatile online behaviour and commentary.

isis-killer-beheading-video-story-top M5S, League say Giuseppe Conte's still their man for Italy
Jun 02, 2018 - 00:58
Italy is no stranger to political turmoil - it has had 64 governments since World War Two. The euro has been Italy's currency since 2002, when it replaced the Italian lira.

John Goodman Responds to Roseanne Cancellation
Jun 01, 2018 - 15:33
Jarrett, who is African-American and was born in Shiraz, Iran, is neither Muslim nor a member of the Muslim Brotherhood. And Barr pointed a finger at Wanda Sykes, the show's consulting producer, for ultimately causing the show's demise.

isis-killer-beheading-video-story-top Baby talk: Serena’s return highlights challenges facing tennis-playing parents
May 31, 2018 - 17:22
Though she is back on the court, Williams said her emphasis is looking after her daughter: "No matter what, that's my priority". The American was also asked whether her experience of being at a Grand Slam had changed since becoming a mother.

isis-killer-beheading-video-story-top Anticipated or anticlimactic? Warriors-Cavs 4 in NBA Finals
May 31, 2018 - 17:20
He's worked especially hard to get there this time, playing in all 82 regular season games for the first time in his career. Golden State has three of the league's best shot-makers in Stephen Curry , Kevin Durant and Klay Thompson .