BREAKING NEWS: China’s ZTE to pay $1B fine in deal with US

Chinese telecom giant ZTE will pay a $1 billion fine to the U.S. for violating sanctions as part of a deal signed Thursday, Commerce Secretary Wilbur Ross said. The company will also put $400 million in escrow. It suspended its main operations in April and a seven-year ban was imposed after it was found to have violated a 2017 agreement by illegally shipping goods to Iran and North Korea.

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