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Trade war

US clears way for ending ZTE ban

Bruised Chinese tech firm moves closer to restoring critical supply chain

The U.S. and ZTE have finalized an agreement to end a ban on technology exports to the Chinese tech firm.   © Reuters

WASHINGTON -- The U.S. and ZTE reached an agreement on Wednesday that will lift a technology ban on the telecommunications equipment maker once it deposits $400 million, ending a high-profile battle in the U.S.-China trade war.

Washington in April barred ZTE from doing business with American businesses for seven years, cutting the company off from key suppliers of components like semiconductors and bringing its smartphone manufacturing to a sudden halt.

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