Published: Mon, July 16, 2018
Economy | By Shawn Conner

USA lifts ban on China’s ZTE

USA lifts ban on China’s ZTE

Commerce on Wednesday said it signed an agreement with ZTE, China's No. 2 telecommunications maker, paving the way for it to resume operations after a almost three-month ban on doing business with American suppliers.

The Commerce Department previously said it would remove the ban after China's second-largest telecommunications equipment maker paid a $1 billion penalty and completed a $400 million escrow payment as part of a settlement reached last month.

ZTE, which relies on US components for its smart phones and networking gear, ceased major operations after the ban was ordered in April. President Donald Trump has said he's prepared to put tariffs on as much as $450 billion worth of Chinese exports.

Palestine Tensions: Israel retaliates after Hamas rocket attacks
Since the protests and clashes broke out along the border on March 30, at least 141 Palestinians have been killed by Israeli fire. The barrage from the Gaza Strip began in the early morning hours of Saturday, sending thousands of Israelis to bomb shelters.

The company had made false statements about disciplining 35 employees involved with illegally shipping US -origin goods to Iran and North Korea, Commerce Department officials said. ZTE paid $892 million in penalties to the United States a year ago in connection with the 2017 settlement and guilty plea.

We also note that our nation's six top intelligence leaders testified before the Senate Intelligence Committee in February 2018 about their concern that ZTE, Huawei, and other Chinese state-directed telecommunications companies are beholden to the Chinese government and Communist Party, which provides the capacity for espionage and intellectual property theft, and therefore poses clear threats to the national security, people, and economy of the United States.

Many U.S. lawmakers see the company as a national security threat and, on Thursday, a group of Republican and Democratic U.S. senators urged that ZTE's penalties be reinstated.

France beats Croatia as Pogba, Mbappe, Griezmann shine
By contrast, France advanced through the knockout stages with victories over Argentina , Uruguay and Belgium all in normal time . The physical demands of the FIFA World Cup have been ludicrously hard on their starting players.

The U.S. Senate included a provision to reverse the deal in a massive defense policy bill passed last month.

As of Friday, ZTE was no longer on the Commerce Department's "denied persons list", Reuters reported. The lifting of the bans allows ZTE to resume operations fully as they were before the bans were in place.

The Shenzhen-based company last week appointed a new chief executive, three executive vice presidents and 17 senior vice presidents, after terminating the employment contracts of former senior management staff as part of a settlement deal with the U.S. for breaches of a United States export ban on doing business with Iran and North Korea.

Elon Musk in China
In May 2016, Musk said he estimated the company would make 100,000 to 200,000 Model 3s during the second half of 2017. Tesla , for its part, said plumbing was not a problem and it had not heard of managers telling anyone to do that.

Like this: