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U.S. reached deal to keep Chinese telecom ZTE in business - New York Times

U.S. reached deal to keep Chinese telecom ZTE in business - New York Times
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WASHINGTON (Reuters) – The U.S. government has reached a deal to put Chinese telecommunications firm ZTE Corp back in business, the Trump administration told lawmakers, according to a report Friday in the New York Times.

The deal, brokered by the Commerce Department, requires ZTE would pay a substantial fine, place American compliance officers at the firm and change its management team, the Times reported, citing a person familiar with the agreement. Commerce would then lift an order preventing the company from buying U.S. products.

(Reporting by Tim Ahmann and Doina Chiacu)

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