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ZTE agrees to pay USD 1bn fine to the US

A deal has been reached between Chinese telecommunications company ZTE and the U.S. government. ZTE agreed to pay USD 1 billion in fines, replace its board and senior leadership, and allow inspection from the government after being accused of selling telecom technology to Iran and North Korea, which violated U.S. sanctions. ZTE would have otherwise be banned from buying American products for seven years.

The seven year ban would’ve prevented ZTE from buying Snapdragon processors from Qualcomm as well as other key components in manufacturing smartphones. This deal should reduce tensions between Chinese president Xi Jinping and Donald Trump, but some lawmakers aren’t happy with it.

Disagreements come from opinions that the US shouldn’t help a Chinese company that apparently broke American law and thus be accused to be a national security threat. American citizens were advised by the FBI, CIA and NSA to not buy smartphones from Chinese tech companies like Huawei and ZTE a few months ago due to a security threat to American consumers. Such companies involved with foreign governments could pose risks to the U.S. telecommunications structure, according to FBI Director Chris Wray.

Source: WSJ

 

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