ZTE Nears Final Hurdle for U.S. to Lift Equipment-Buying Ban

ZTE Corp. is close to clearing the final hurdle needed for the Trump administration to lift sanctions that prevented the Chinese telecommunications giant from buying American equipment, a U.S. Commerce Department official said.

The Shenzhen-based company has paid a $1 billion fine and another $400 million in escrow will be completed in a couple of days, the official said.