The United States signed an agreement with ZTE Corp that paves the way for the recovery of the Chinese company after a ban on doing business with US suppliers nearly three months ago, said Wednesday the Commerce Department. 19659003] China ZTE Corp logo is seen on the building of ZTE Beijing research and development c "/>
FILE PHOTO: China ZTE Corp logo is seen on the building of the ZTE Beijing Research and Development Center in Beijing, China June 13, 2018. REUTERS / Jason Lee
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REUTERS: The United States has signed an agreement with ZTE Corp that paves the way for the takeover of the Chinese technology company after nearly three months The Commerce Ministry said Wednesday that the ban on the manufacturer of telecom equipment No. 2 in China will be lifted once the company will have deposited 400 million US dollars into an escrow account in an American bank, Commerce. Department said, what he can do after the Commerce officials have signed an escrow contract
Once raised, ZTE, which employs about 80,000 people, is expected to restart the major operations, which would remove a blocking point in the United States. -China commercial war. The suspension for ZTE coincides with a new threat from the Trump administration of 10 percent tariffs on 200 billion US dollars of Chinese goods
