News 12 july — 15:11

ZTE inches closer to resuming business in US

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Chinese tech giant ZTE has signed an agreement with the US clearing the way for it to resume business in the country, BBC reports.

Once ZTE makes a $400m (£303m) security deposit, an order to lift the ban will be issued, the US Commerce Department said.

ZTE was blocked from buying US parts in April after the US found it violated trade bans with Iran and North Korea.

The move comes as a US-China trade war is escalating.

"Once the ZTE has completed the $400 million escrow deposit, BIS will issue a notice lifting the denial order," the US Department of Commerce said on Twitter, referring to the Bureau of Industry and Security.

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