Last month, the US Department of Commerce banned ZTE from selling its products in the country and prohibited US companies from selling to ZTE, alleging that the company violated sanctions against trade with Iran and North Korea. While the company tried to get the ban lifted by first threatening to take legal action and then sending a request to the US government, it received no respite.
While both the parties may have agreed on an outline, the discussions are still ongoing and the deal may still fall apart, the people cautioned. It’s worth noting that the US and China have declared a truce in their recent trade spat over the weekend, after Chinese negotiators pledged to buy more US products.
