Exclusive: U.S. clears hurdle to lifting ban on China's ZTE

Exclusive: U.S. clears hurdle to lifting ban on China's ZTE

5 years ago
Anonymous $TjsaxHwAP-

https://finance.yahoo.com/news/exclusive-u-clears-hurdle-lifting-174151016.html

"Once ZTE has completed the $400 million escrow deposit," the Commerce Department said in a statement, it will "issue a notice lifting the denial order." ZTE did not immediately respond to a request for comment.

The escrow agreement is part of a $1.4 billion settlement ZTE reached with the U.S. Commerce Department last month to regain access to U.S. suppliers, whose components it relies on for its smart phones and networking gear.