The US Commerce Department will place export restrictions on mainland telecommunications equipment manufacturer ZTE on Tuesday for alleged violations of American export controls on Iran, Reuters reported, citing a notice from the department that has not been released to the public. The restrictions will require ZTE’s suppliers to apply for an export license before shipping American-made equipment or parts to the company in China. “This is a significant new burden on trade with ZTE,” said a senior official at the Commerce Department who declined to comment on whether the US government could take further action against the company.
China Economic Review