ZTE agrees to pay $1 billion fine to stop US Denial Order

ZTE has been persona non grata in the US for some time now, with the Trump administration having slapped a Denial Order on the company preventing it from operating in North America. The president expressed a desire to get the Chinese firm "back into business" and today that is a step closer to happening. Today the US Department of Commerce has come to an agreement with the company, which will pay a $1 billion fine for violating sanctions. In addition, ZTE will make changes to management, and put a further $400 million in escrow to cover possible future fines. See… [Continue Reading]