- The Trump administration reached a deal to ease sanctions on Chinese tech giant ZTE, Commerce Secretary Wilbur Ross said.
- ZTE will be forced to pay a $1 billion fine, make changes to its executive team, and allow a US compliance team to oversee activities.
- The ZTE deal comes after weeks of tense negotiations between the Trump administration and the Chinese government.
- Both Republicans and Democrats criticized Trump's willingness to make a deal on ZTE.
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IT'S OFFICIAL: Trump has a deal to save Chinese tech giant ZTE from crippling sanctions
Chinese tech giant ZTE will be forced to pay a fine of $1 billion and make changes to their executive team according to Commerce Secretary Wilbur Ross. The deal comes after weeks of talks between the Trump administration and the Chinese government.
The US has reached an agreement to lift sanctions on Chinese telecom equipment maker ZTE, Commerce Secretary Wilbur Ross said Thursday.
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