Trump strikes deal with Xi over sanctions imposed on ZTE

Updated:7 years, 5 months ago

New Delhi, May 26 (ANI): United States President Donald Trump said that he has struck a deal with Chinese President Xi Jinping to ease the United States sanctions imposed on Chinese telecommunications company ZTE. The Commerce Department last month had blocked China's ZTE from importing American components for seven years, accusing it of misleading U.S. regulators, after it had settled charges of violating sanctions against Iran and North Korea, Fox News reported. The Trump administration, however, sparked a controversy by putting ZTE in play amid trade negotiations. According to Trump, Xi recently called him to ask if there was something he could do to put the company back in business, according to Fox News. Trump asked Xi what he was prepared to do, the president said -- and Xi replied that he was willing to have ZTE pay a fine of USD 500 million dollars for the embargo violations, change the management and replace the board.