ZTE lodges application with United States for suspension of business ban

Mae Love
May 7, 2018

The ban prohibits U.S. companies from selling crucial hardware and software components to the company, with one Chinese investment bank estimating ZTE had only one or two months supply of those items on hand.

Chinese officials asked a high-level USA delegation to reconsider the ban during trade talks in Beijing last week.

USA had imposed a seven-year ban on US companies selling components and software to ZTE last month after finding the Chinese telecoms company breached US sanctions on Iran.

The ban has been viewed by many in China as part of the larger trade tussle that's taking place between two of the world's strongest economies.

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ZTE Corp, the Chinese telecom equipment and smartphone maker, said on Sunday that it submitted an application to the US Commerce Department for suspension of a business ban on the company. This ban had also ignited the existence of US and China trade wars.

There has been no public read-out of the talks yet from the US side. The ban was placed in response to the company's failure to completely meet the terms of the settlement in a sanctions violation case that ZTE lost back in 2016.

Trading in ZTE shares in Hong Kong and Shenzhen has been halted since the USA announcement last month.

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