Home > Legal articles > ZTE reaches USD 1.4 billion settlement to replace 7-year denial of export privileges
On 7 June 2018, U.S. Secretary of Commerce Wilbur Ross announced a new settlement between ZTE, China’s biggest producer of telecom equipment, and the U.S. Commerce Department’s Bureau of Industry and Security (BIS). This settlement will replace the BIS’s order of April 2018, which denied export privileges to ZTE for seven years in relation to US-origin parts and software (see our Legal Alert of May 2018). Under the new settlement, ZTE has agreed to:
These penalties and compliance measures are in addition to the penalties already paid under the settlement of March 2017 (see In context of March 2017). In the words of Mr Ross, this settlement imposes “the largest penalty it has ever levied” and requires ZTE to “adopt unprecedented compliance measures”.
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