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U.S. ban on China's ZTE lifted

Reuters Friday, 13 July 2018
The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.
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News video: ZTE ban lifted as China ponders next trade war move

▶ ZTE ban lifted as China ponders next trade war move 01:49

Hong Kong shares of ZTE Corp have surged nearly 24 percent after China's No. 2 telecommunications equipment maker cleared the last hurdle to lifting a U.S. ban on component supplies. As Thuy Ong reports, it comes as China said foreign firms operating in China would suffer in a trade war, urging U.S....

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