Business
22:44, 06-May-2018
ZTE applies for halt of business ban from US Commerce Department
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China’s ZTE has formally submitted a request to the US Commerce Department for the suspension of a Denial Order, which bans US companies from selling components and software for 7 years, the company said in a filing to Shenzhen stock exchange on Sunday.
The Denial Order, initiated on April 17 by the US Commerce Department, has brought ZTE to “an abrupt stop” due to its heavy reliance on the supply of American chips, and caused an escalation of trade tensions between China and the US.
The company also said that it had submitted supplemental information in response to the Denial Order as was instructed by the US Commerce Department.
China’s Ministry of Commerce said in a statement earlier on Friday that Chinese officials had made solemn representations over the ZTE case to the US trade delegation members, who were in China during May 3-4 for negotiations to solve the ongoing trade frictions between the two countries.
A US trade delegation has said it would report back to President Donald Trump about China’s representations on ZTE.
The Shenzhen based company said the ban was unacceptable and threatened its survival after the ban was announced last month. China’s Commerce Ministry spokesman said that China would take any necessary measures at any time in response to the US move against ZTE.