The Chinese telecoms group ZTE, is allowed to re-trade with US companies. ZTE had paid his due to breaches of Sanctions imposed billion penalty paid and additional $ 400 million into an escrow account.
The US trade Minister Wilbur Ross said in Washington. The company had paid a penalty of a billion dollars and all the members of the Board of Directors replaced. In addition, ZTE had previously stored $ 400 million (342 million Euro) in the case of a US Bank, to pay for possible future penalties for breaches of Sanctions.
The US had imposed on the Chinese network equipment and Smartphone provider, penalties for alleged illegal transactions with Iran and North Korea, and in April for seven years, the access to US technologies denied. Without Chips for its Smartphones, ZTE had to create large parts of the production. The company is heavily dependent on supplies from US manufacturers, such as Qualcomm or Intel.
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Also, in the USA, controversial
In may it had switched on then US President Donald Trump in the conflict, which was, increasingly, to the game ball in the trade dispute between Washington and Beijing. He signaled China’s President, Xi Jinping, “a personal Favor”, and said to want a solution for ZTE try.
A little later, the US Department of Commerce agreed with the company to a settlement that should include, in addition to the penalty payments, changes in Management and extensive security guarantees. The Deal is in the U.S. domestically, however, highly controversial, members of both the Democrats and the Republicans throw the Trump-government of a lax approach.
ZTE must comply with US laws
The company with around 80,000 employees, is dependent on the electronic components from the United States, in addition, the group produced Smartphones from US chip to be operated and are equipped with the Android operating system.
Minister for trade Ross announced that the United States would observe the conduct of a business of ZTE, even after the end of the sanctions, “exactly”. It must be ensured that the company be aware all the US laws and rules.
Sanctions in a poisoned environment
The agreement reached between the U.S. government and the Chinese group fell right in the middle of the escalating trade conflict between the two countries. On Tuesday, the US government, punitive tariffs announced for Chinese Goods to the value of $ 200 billion, which could occur starting in September.
President Trump justified his criminal customs policy with the massive US trade deficit with China, which he regards as the expression of an unfair trade relationship. He also accuses China to gain through intellectual property theft and forced technology transfers, foreign investment, unfair advantages.
dk/sti (dpa, rtr, afp)