US drops the hammer on China’s ZTE amid trade tensions
The US just handed down more penalties against a Chinese telecommunications giant. And no, this isn’t about Huawei.
The Commerce Department has imposed a “denial of export privileges” against ZTE, which translates to a ban on US companies selling any products and services to the China-based company. The ban lasts for seven years and comes into effect after ZTE allegedly violated the terms of a 2017 settlement, officials from the Commerce Department’s Bureau of Industry and Security said Monday in a conference call.