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US Won't Lift Ban on Chinese Telecom ZTE Until $1B Fine Paid

The United States will not lift the ban on doing business with Chinese telecommunications giant ZTE until ZTE pays a $1 billion fine for trade violations and places $400 million more in escrow. The U.S. Commerce Department released details of its settlement it made with ZTE, under President Trump's orders, to let the crippled company get back in business again. "Today, BIS (Bureau of Industry and Security) is imposing the largest penalty it has ever levied and requiring...

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