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ZTE and U.S. government have signed preliminary agreement and fined US$1.7 billion to lift ban

via:网易科技     time:2018/6/6 12:05:10     readed:86

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The news from Reuters stated that ZTE agreed to pay a fine of 1 billion U.S. dollars and delivered a 400 million U.S. dollar deposit to a custodian by a third party as a fine for forfeiture in the event of a breach of the agreement. Moreover, the U.S. Department of Commerce plans to revise its 2017 settlement agreement and include ZTE’s US$361 million in payments, resulting in the United States receiving a fine of US$1.7 billion.

The source said that ZTE signed an agreement drafted by the United States last week, but did not sign the amended settlement agreement reached last year.

On April 16 this year, the U.S. Department of Commerce’s refusal to activate ZTE will prohibit US companies from selling components, goods, software and technology to ZTE in the next seven years. After that, the two sides negotiated several times. ZTE has also expressed its unfairness and unacceptability to the U.S. sanctions.

It is understood that after the news of the preliminary agreement signed by ZTE, ZTE's major component suppliers in the United States have all achieved an increase after the market. (quiet)

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