US, China Agree on Outline to Settle ZTE Controversy

Apparently, the US and China have agreed on the broad outline of a deal that would save imperiled Chinese telecom giant ZTE as the two sides move closer to resolving their trade dispute. The Trump administration would remove the ban on US companies selling components and software to ZTE, a penalty that has threatened to put the company out of business. Instead, ZTE would be forced to make big changes in management, board seats and possibly pay significant fines. Beijing has also offered to remove tariffs on billions of dollars of US farm products as part of the negotiations.

The people cautioned that discussions are continuing and the agreement could still fall apart.