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

Reuters 

By Karen Freifeld(Reuters) - The United States signed an agreement with ZTE Corp that paves the way for the Chinese tech company to resume operations after a nearly three-month old ban on doing business with American suppliers, the U.S. Commerce Department said on Wednesday. The ban on China's No. 2 telecommunications equipment maker will be removed once the company deposits $400 million in an escrow account, the Commerce Department said, which it can do now that Commerce officials signed an escrow agreement. "Once ZTE has completed the $400 million escrow deposit," the Commerce Department ...

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First Published: Wed, July 11 2018. 23:33 IST
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