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Trump intervenes to stop Chinese ZTE ban
09:24 - 14/05/2018
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US President Donald Trump has said he is working with Chinese President Xi Jinping to find a quick solution for ZTE's return to business after the company announced its main operating activities were suspended last week due to the ban on export concessions by the US Department of Commerce.
ZTE said in a statement that it had enough money to remain "floating" if it halted its operations because of the US embargo on exports to the company last April.
The seven-year ban on the Chinese company for failing to stick to the terms of the plea bargain was found after it found a breach of the sanctions regime against Iran and North Korea, which prohibits the export of US equipment to the two countries. The company said the ban would "significantly affect the survival and development of ZTE " and was trying to cancel or ease the ban
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