Economics
U.S. Cuts Off China's ZTE From American Tech for Seven Years
- ZTE made ‘false statements’ to the U.S: Commerce Department
- Chinese firm pleaded guilty last year to sanctions law
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The U.S. government said Chinese telecommunications-gear maker ZTE Corp. violated the terms of a sanctions settlement and imposed a seven-year ban on purchases of crucial American technology needed to keep it competitive.
The Commerce Department determined ZTE, which was previously fined for shipping telecommunication equipment to Iran and North Korea, subsequently paid full bonuses to employees who engaged in the illegal conduct, failed to issue letters of reprimand and lied about the practices to U.S. authorities, the department said.