The Chinese phonemaker was found by the Commerce Department to be doing business with companies in Iran and North Korea, a sanctions no-no.
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ZTE plea deal with US could be “sign of progress”
ZTE could come out from under the boulder of sanctions it has been facing for a year. But it will depend on concise government action.
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US continues export reprieve for ZTE, could be permanent
The Commerce Department has issued its third extension of trade reprieves for Chinese manufacturer ZTE, allowing the company to source parts from the US until at least February 27.
ZTE and its parts suppliers initially faced its sanctions after a 2012 investigation into its secret trading practices with Iranian businesses, a no-go for the US. The company has since been cooperating with the government on its extended investigations while it has continued buying components such as Qualcomm’s Snapdragon processors for use in products sold in the US.
One financial analyst believes that ZTE may be able to permanently shake off the restrictions, though there’s uncertainty surrounding that decision with an incoming President Donald Trump potentially escalating the US’s trade pressure toward China.
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Commerce Department grants second extension of sanctions reprieve for ZTE in the US
ZTE has won a second extension to its reprieve from trade sanctions in the US.The Commerce Department initially issued the sanctions back in March after its investigations found that the Chinese manufacturer was doing business with Iranian companies. Parts of ZTE’s products have been sourced from American companies.The company has maintained its cooperation with the investigation and was granted a break from the ...
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ZTE cooperating with Commerce Department as exports reprieve is extended
After crossing the Commerce Department’s sanctions against Iran, ZTE is continuing to cooperate with the government’s investigation. As such, the department has extended a reprieve that allows for the manufacturer to continue to source parts and software from the US. The reprieve that was supposed to end on Thursday will now end on August 30.ZTE Chairman Zhao Xianming said in a statement that the company can ...
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