EU preparing workaround for Iran sanctions - Trump promises to help Chinese telecoms firm TZE - Farm subsidies threatened as EU thrashes out budget
Shares of Chinese telecom equipment maker ZTE have plummeted after the US Senate voted to overrule Donald Trump's deal with the company. A ban on high-tech chip sales to ZTE now looks likely to be reimposed.
US Commerce Secretary Wilbur Ross has announced that the Chinese telecoms equipment maker has signed a definitive agreement to pay more than one billion dollars in fines in exchange for the removal of US sanctions.
Chinese telecoms equipment maker ZTE has seen its shares shed a staggering 39 percent after the resumption of trading in the company. The plunge came despite the lifting of sanctions by the US administration.
In a surprise move, US President Donald Trump has said he's willing to help China prevent its telecom giant ZTE from going out of business. The company is still reeling from a US technology sales ban.
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