The United States said on July 11 that it signed an agreement with ZTE Corp. that paves the way for the Chinese tech company to resume operations after a nearly three-month ban on doing business with American suppliers.
The ban on China’s No. 2 telecommunications equipment maker will be removed once the company deposits $400 million in an escrow account, the U.S. Commerce Department said in a statement announcing that an escrow agreement had been signed.
