World Bulletin / News Desk
ZTE stock will be traded on the Hong Kong stock exchange Wednesday after a nearly two-month suspension. In April, the U.S. Commerce Department banned American businesses from selling parts to ZTE, effectively putting the entire company’s future in question.
After ZTE agreed to pay the fine and change up its leadership, the U.S. reversed the ban, which was originally brought about because ZTE allegedly evaded U.S. sanctions on North Korea and Iran.
“ZTE shall replace the entire boards of directors of both the Company and [Indian subsidiary] ZTE Kangxun” within 30 days of the Commerce Department’s reversal of the ban, ZTE noted in a filing.
The U.S. Senate voted for an amendment Tuesday that would strike the deal between ZTE and the administration of President Donald Trump, however. A bipartisan group of Senators approved an amendment to the National Defense Authorization Act that would reinstate the ban on American businesses from supplying ZTE.
“The fact that a bipartisan group of senators came together this quickly is a testament to how bad the Trump administration's ZTE deal is and how we will not shy away from holding the president's feet to the fire when it comes to keeping his promise to be tough on China,” Senate Minority Leader Charles Schumer said in a statement.
“The threat Huawei & ZTE pose to our national security is too great to ignore,” Republican Senator Tom Cotton added in a statement, also referring to Chinese smartphone maker Huawei.
“This amendment will help keep Americans' private info out of the hands of the Chinese Communist Party.”
The amendment would still have to be approved by the House of Representatives. Neither Trump nor ZTE commented on the Senate amendment.
The military said it detected the lab in the town of Alcoyonqui, near the state capital Culiacan, and raided it on Thursday.
Israel closed Al Aqsa compound after a stabbing attempt near a mosque gate
Terrorists were ‘neutralized’ in Turkey's southeastern Hakkari province and northern Iraq’s Hakurk, Zap and Gara areas
US Defense Secretary Jim Mattis says training for combined patrols will start 'within 72 hours' in Turkey
Palestine Liberation Organization’s Central Council warns political ties with US will not be normalized
Call comes after Israeli police closed all of Al-Aqsa Mosque’s gates following an attempted knife attack
President says local politicians 'know a windfall when they see it;' asked for 'ridiculously high' sum
Credibility of US government with a president as 'erratic' as Trump is greatly diminished, says expert
Estimate skyrocket to $80 million more than initially thought
Pastor Andrew Brunson, others issues discussed during 'productive meeting', says Senator Graham
Speculation mounts about possible Egypt-brokered ceasefire between Israel, Hamas
With his candidacy, a legal battle that will characterize the most uncertain elections in Brazil’s history has begun
Assistant Secretary of Defense Randall Schriver says the move would affect U.S.-Philippine interoperability
Prospects remain slim for Lula to get on October's presidential ballot
Once court approves recount, incoming lawmakers can elect new parliamentary speaker
TRNC minister of public works and transportation says Turkey is not alone in the face of ‘global attack’