The Trump administration banned Chinese electronics manufacturer ZTE from selling its products in the US last month over security concerns and alleged violation of a trade agreement. The company faced a seven-year ban, during which it could neither sell its products in the US nor procure parts/software from US-based companies. Days after the ban was imposed by the US Department of Commerce, ZTE released a statement, saying that it won’t accept the ‘unfair’ penalties and would seek legal action.
While the announcement is rather unexpected, it may mean a lot for the company, which is losing increasing amounts of money with each passing day. As of now, neither parties have revealed how soon the company will be able to get its operations back on track in the US.
