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The Chinese company ZTE, become a toy in the trade war between Beijing and Washington, will soon be able to buy suppliers in the United States.
The telecommunications equipment supplier and the US Department of Commerce said Wednesday that Settlement signed a trust contract in early June
Once the Chinese company has deposited $ 400 million, it will be able to buy American suppliers. According to information from the Bloomberg news agency, this can be done in a day. The news has been well received on the stock market. The most hurt portion of US sanctions increased by a quarter in Hong Kong
In April, the US government banned ZTE from doing business with Iran and North Korea as illegal in American companies. ZTE then had to close a large part of its production. In early June, the US government and ZTE agreed to end the sanctions.
In addition to a fine of $ 1 billion (about 860 million euros), the cash payment agreed upon at the time was part of the agreement. The money is affected if ZTE breaks the rules again.
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