US President Donald Trump has confirmed some of the key details of the changes the Commerce Department has made to its disciplinary ledger against Chinese tech manufacturer ZTE.

It was earlier reported that the department had communicated to Congress that it would remove a 7-year imports ban on the company if it paid $1.3 billion, come under compliance monitoring by an American firm and switch out members of its management team and board.

In doing so, Trump also took a swipe at Democrats and President Barack Obama in the context of trade with China. Negotiations have been happening over the past few months on agricultural and technological topics after the president first spiked tariffs on steel made from all foreign countries. It is said that China has brought up reprieve for ZTE as one of its talking points in the talks.

Trump argues that even as ZTE was under investigation for trade sanction violations dating to 2012, the company was allowed to “flourish.”

ZTE has yet to respond to the recent developments. It is not clear if the company is working to comply with the new terms. The OEM projects to lose more than $3.1 billion from its stoppage of operations in reaction to the ban.

Trump had first suggested providing some relief for ZTE through a tweet.

You May Also Like

Pocketnow Daily: Samsung Galaxy Fold 2 with CRAZY Price and Camera?!(video)

On today’s Pocketnow Daily, we talk about the possible camera in the Samsung Galaxy Fold, the new name for the iPhone SE 2 and more
Samsung foldable clamshell smartphone

The Samsung Galaxy Fold 2 could have the same camera as the Galaxy S11

The new Samsung Galaxy Fold 2 may arrive with one of the best cameras of 2020, or at least the best in foldable devices

The upcoming iPhone SE 2 could be the iPhone 9 we didn’t get

New rumors say that we are getting a new affordable iPhone next year, but now it would be called iPhone 9 instead of iPhone SE 2