An oxygen ball for a company that lately does not raise its head. When everything seemed to reach an amicable agreement, with the American president reaching out his usual channel of communication and style, the country’s senate ended all its hopes with the promulgation of a new defense law.
The veto of ZTE products and operations in the United States will continue in force until President Donald Trump manages to reach an agreement with the Senate to comply with the one he reached with ZTE and stop the actions that negatively affect the Chinese manufacturer and, of bounce, other companies like Huawei.
The temporary suspension of the US ban on ZTE having commercial relations with US suppliers, as verified by Reuters, will take place until August 1 and started on July 2, authorized by the Department of Industry and Services of the Department of Commerce. of the United States.
What allows this lifting of sanctions is that ZTE can move capital again and transfer funds in a limited way, either by receiving them or issuing them. The company is also granted permission to continue operating networks and equipment already installed on US soil, in addition to offering assistance to customers of devices that had contracted their services before April 15.
Part of the agreements reached by the White House with ZTE include complying with the sanction initially imposed on this second Chinese telephone infrastructure manufacturer after it was proven that it had maintained business with Iran and North Korea, which is incompatible with continuing to market in the United States.
The sanctions include paying a fine of one billion dollars, blocking 400 million in a guarantee account and the dismissal of several senior executives, of whom they would have already disposed of eight. To all this we would add a deep review of the management of commercial relations of ZTE.
Some information indicates that ZTE has begun to make progress in complying with these sanctions, although nothing officially confirmed yet. We’ll have to wait and see what ZTE’s gestures are for if, finally, the Senate does not give up and where is the bilateral agreement between Trump’s cabinet and the Chinese manufacturer.