The governments of the United States and China have come close to agreeing to abolish the sentences imposed for ZTE. The sanctions are a prohibition for US-based companies to sell their technological equipment to the Chinese corporation.
Although ZTE deserves to be relieved that the punishment imposed on it is potentially abolished, it does not mean they have no homework to complete. Later, one of these smartphone vendors will make a major overhaul in the ranks of management, directors, and payment of a fine in exchange for the revocation of sanctions.
Currently, the US government is reportedly taking care of all the necessary documents in completing its dealings with China. The agreement stems from a meeting between two politicians from both countries.
The two politicians are Steven Mnuchin, US Treasury Secretary, with Liu He, China's Deputy Prime Minister in industry, transportation, banking, human resources and social security. The meeting itself took place in Washington last week.