May 25, 2018 / 4:49 PM / a month ago

U.S. reached deal to keep Chinese telecom ZTE in business -New York Times

WASHINGTON, May 25 (Reuters) - The U.S. government has reached a deal to put Chinese telecommunications firm ZTE Corp back in business, the Trump administration told lawmakers, according to a report Friday in the New York Times.

The deal, brokered by the Commerce Department, requires ZTE would pay a substantial fine, place American compliance officers at the firm and change its management team, the Times reported, citing a person familiar with the agreement. Commerce would then lift an order preventing the company from buying U.S. products. (Reporting by Tim Ahmann and Doina Chiacu;)

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