Chinese telco ZTE must change management for US reprieve, Kudlow says

Trump on Sunday ordered the Commerce Dept to get ZTE back into business, weeks after it cut the company off from US suppliers as punishment for "egregious" violations of sanctions against Iran

Chinese telecom company ZTE Corp will have to change its management, including by possibly appointing new board members, to win a reprieve from US sanctions that shut it off from key suppliers, the director of the White House National Economic Council said.

“We’re not talking about letting them off scot-free by any stretch,” Larry Kudlow, President Donald Trump’s top economic advisor, said in an interview on Fox Business Network. “Commerce Secretary Wilbur Ross is having a second look at remedies. If there are any structural changes in their case they will be very harsh: Change of management. Change of board. Change