U.S. reaches deal with China’s ZTE: Commerce Secretary
(Reuters) – U.S. Commerce Secretary Wilbur Ross mentioned on Thursday Washington had reached a cope with ZTE Corp that might raise a ban on shopping for from U.S. suppliers, permitting China’s No. 2 telecommunications tools maker to get again into enterprise.
The deal includes ZTE altering its board and administration inside 30 days and paying a $1 billion superb and placing $400 million in escrow, amongst different situations, Ross advised CNBC, including that he didn’t assume the association would have any impact on tariff talks with China.
Reporting by Susan Heavey; Writing by Eric Walsh