ZTE reportedly signs preliminary deal to lift U.S. technology ban

It appears that the Trump administration is pretty bothered by the fact that ZTE wanted to replace a top executive with one from another company that was also sanctioned by the US government for being a national security threat.

Commerce Secretary Wilbur Ross banned USA companies from doing business with ZTE in April, after his agency learned that ZTE had not followed through on commitments made back in 2016.

ZTE could not be reached for comment by either Reuters or the Post.

An agreement in principle is not a final agreement but is a step toward it. Commerce Department spokesman James Rockas told Reuters that "no definitive agreement has been signed by both parties". One billion dollars would be settled under the deal - adding to $361 million that the company agreed previous year to pay - and another $400 million would be held in escrow should there be any future violations of the deal.

"The sources requested anonymity because they were not authorized to publicly discuss the matter". Moreover, the U.S. Commerce Department is expected to count the $361 million ZTE paid a year ago as part of a settlement agreement, which will allow the government to claim no less than $1.7 billion in penalties. In exchange, ZTE would have to pay a total of $1.7 billion in penalties, according to the the report.

IOS apps on Mac: What business pros need to know
A new feature, Digital Health , aimed at helping people use their phones less often was also unveiled. One of the problems with apps purchased from Apple's App Store is that there are no free trials.

The U.S.is in the midst of trade talks with China to avoid a tariff dispute from escalating into a full-blown trade war.

On Tuesday, Charles Schumer, a Democratic senator from NY, tweeted that the deal shows Trump put China, and not the United States, first. There has been strong opposition to breathing new life into ZTE from the US Congress, which has labeled the company a threat to "national security".

As part of the deal, ZTE has also reportedly promised to replace its board and executive team in 30 days.

U.S Senate Democratic leader Chuck Shumer quipped, "By letting ZTE off the hook, the president who roared like a lion is governing like a lamb when it comes to China". "Congress should move in a bipartisan fashion to block this deal right away".

The agreement stipulates that ZTE would be required to allow unrestricted site visits. ZTE seemingly had little hope of survival until President Donald Trump tweeted that he was pushing the Commerce Department to work with ZTE to remove the ban -- an unprecedented move by a USA president to countermand one of his own departments.

Related News:

  • Bryson DeChambeau holds nerve to clinch play-off win at Memorial

    Bryson DeChambeau holds nerve to clinch play-off win at Memorial

    DeChambeau did concede, though, that he had not been at his best, saying: "I just wasn't comfortable all day for some reason". DeChambeau, a 24-year-old who played in college for Texas Christian, was probably due for his second PGA Tour victory.
    Social Security has 16 years left before benefit cuts begin, report says

    Social Security has 16 years left before benefit cuts begin, report says

    This year, the program's cost will outstrip total income by $2 billion and non-interest income by $85 billion, the report said . Medicare's hospital insurance fund, meanwhile, will become insolvent by 2026, or three years sooner than projected last year.
    Microsoft Announces

    Microsoft Announces "the Biggest Xbox Sale of the Year"

    Firstly, the promotion features Microsoft's 4K-capable Xbox One X for $549 CAD, $50 off regular price. Plus, there will be major discounts on expansions and season passes as well.
  • Chip & Joanna Gaines Fined $40,000 for Breaking Safety Rules

    Chip & Joanna Gaines Fined $40,000 for Breaking Safety Rules

    A spokesman for the Gaines says they immediately took steps to bring their activities into compliance after hearing from the EPA. Chip Gaines will also need to release a short video explaining the dangers of lead paint, according to Page Six .

    Woman discovers cancer thanks to doctor watching HGTV

    She needs a sonogram and fine needle biopsy. "I am watching a TV show and notice this woman has a left thyroid mass", he wrote. Hopefully, McGuinness will be successful in her fight against cancer once again - and her recovery will be all thanks to Dr.
    Woman catches baseball in beer cup during San Diego Padres game

    Woman catches baseball in beer cup during San Diego Padres game

    In fact, it may have been the highlight of the game for many Padres fans, who watched the Braves annihilate their team 14-1. Sitting in the stands during the Padres-Braves game, DiMarco caught a foul ball from Atlanta's Ender Inciarte .
  • David Spade 'can't believe' sister-in-law Kate Spade is dead

    David Spade 'can't believe' sister-in-law Kate Spade is dead

    The Kate Spade New York brand launched in 1993 and quickly grew to include more than 140 physical retail locations across the U.S. But they did confirm that Andy Spade had moved out of the family home and was seeking a divorce from his designer partner.
    ’13 Reasons Why’ Renewed for Season 3 at Netflix

    ’13 Reasons Why’ Renewed for Season 3 at Netflix

    Netflix has officially announced on Twitter that they will be renewing their hit series 13 Reasons Why for another season. The popular show has generated quite a bit of controversy over the course of its previous two seasons.
    Aide: EPA’s Pruitt sought used mattress from Trump hotel

    Aide: EPA’s Pruitt sought used mattress from Trump hotel

    The hotel's director of sales and marketing, Patricia Tang, said Monday that the establishment does not sell its used mattresses. Hupp couldn't recall if the mattress purchase went through, but said it was around the time of Pruitt's apartment search.
  • TERROR PLOT FOILED: Israel Thwarts NETANYAHU ASSASSINATION Attempt

    TERROR PLOT FOILED: Israel Thwarts NETANYAHU ASSASSINATION Attempt

    The Israel Security Agency said a plot to assassinate the PM, orchestrated from Syria, also targeted Jerusalem Mayor Nir Barkat . Barkat said he was kept in the loop throughout the investigation and had not changed his routine at all.
    Mozilla brings new 'Side View' and theming features to Firefox Test Pilot

    Mozilla brings new 'Side View' and theming features to Firefox Test Pilot

    Side View is a feature that has been in many a third party browser, allowing you to view two separate pages in the same window . With the extension installed, simply clicking the associated toolbar button will send any tab to Side View.
    House GOP immigration negotiations continue ahead of key Thursday meeting

    House GOP immigration negotiations continue ahead of key Thursday meeting

    Ron Johnson has been one of the few members of the GOP conference to publicly challenge McConnell. According to Corker, Trump thought that this proposal "takes away his negotiating ability".


Most liked

Facebook shares user data with dozens of smartphone manufacturers
It also said that the features couldn't be used with permission and that its engineering teams approved all of them. MR ASHKAN SOLTANI, a research and privacy consultant, on the ability to override Facebook's sharing restrictions.

Scott Disick denies Sofia Richie split
Well, what can we say? (To be fair, he was nearly up against her auto door.) After letting him know that she would not be answering any questions about her ex's love life, the " Keeping Up with the Kardashians " told him to back off.

Judge Aaron Persky recalled over Brock Turner sentencing
Turner was released after serving just three months of his six-month term and has since appealed against his conviction. The judge has not issued a statement following the vote.

Counter-order, the Nine Planet does not exist
But because the largest objects are hurled into the most eccentric orbits, they become more hard to find, the researchers said. Possible separate object is Sedna , the perihelion of which is two times beyond the orbit of the eighth planet.

Woman involved in Wildwood beach arrest shares her side of story
The 54-second video was taken by Alexis Hewitt, who has said was asleep on a beach towel next to Weinman when the commotion began. Asked about police accusations that she kicked and spat at the officers, she said she wasn't sure about the kicking.

Long-serving Cricket Australia CEO James Sutherland to step down
James Sutherland has chose to step down from his position as Cricket Australia's CEO, on Wednesday (June 6). Sutherland becomes the latest in a growing list of changes in Australian cricket over recent months.

Melania Trump Schedules First Appearance in Weeks-But the Press Won't Attend
She sent early signals that she will not bow to speculation or public expectations about what she should be doing. She didn't "disappear", she was at the White House, where she lives, after her release from the hospital.

US calls for China to account for the 'ghosts' of Tiananmen
A Chinese man stands alone to block a line of tanks heading east on Beijing's Cangan Boulevard in Tiananmen Square, June 5, 1989.

Firefighters tackle large blaze in central London hotel
Knightsbridge has been closed between Sloane Street and Grosvenor Place and a number of nearby buildings have been evacuated. The area around the hotel has been closed off, including roads leading up to Scotch Corner and Hyde Park Corner.

Mexico Hits US With Retaliatory Tariffs
The United States trade representative office told the Washington Post that the USA actually has a trade surplus with Canada. The U.S. imports $417 billion in goods from the European Union , $294 billion from Mexico and $278 billion from Canada.

Sonos Unveils New 'Sonos Beam' Soundbar With AirPlay 2, Alexa
The soundbar is 60-percent smaller and $300 cheaper than a Playbar , so it's a better speaker option for those on a budget. The company said it would also be working to eventually integrate voice assistants from China-based technology companies.

Stephens thrashes Kontaveit to reach French Open quarter-finals
This year she won her first premier level title at Miami, maintaining her ideal record in finals which now stands at 6-0. Seconds later, she threw her head back after serving a booming ace that flew past Buzarnescu before she could react.

Ukrainian Journalist on Russian Hit-List Says No Point in Hiding
It also bears similarities to Ukraine's arrest of a Russian news agency editor charged with aiding Russia's annexation of Crimea. He started a hunger strike on May 14, demanding the release of 64 Ukrainian citizens he considers political prisoners.

Crayfish’s desperate bid to escape becoming Chinese meal pays off
China is reported to be the world's largest source of crayfish, following a surge in popularity as a delicacy in recent years. China is in the grip of high demand for crayfish, with specialist restaurants proliferating across the country.

Tom Brady Honors Dwight Clark On His Instagram Page
She keeps thinking positive and convinces me each day that we can beat this, as does my daughter Casey and my son Mac. DeBartolo recently hosted a reunion in Montana where many of Clark's former teammates came for one final goodbye.