China calls on U.S. to protect business environment

DOJ probing Huawei over possible sanctions violations: report

Huawei is reportedly under investigation for breaching US-Iran sanctions

That last part is significant, as ZTE is a customer of several US-based companies, including Qualcomm.

On April 20, ZTE said that the U.S ban was unfair and threatens its survival. The US banned American tech companies from selling hardware and software to ZTE for seven years. The Commerce Department in 2016 issued an administrative subpoena aimed at Huawei, China's largest maker of telecommunications equipment, seeking information about whether it was sending U.S. technology to rogue nations including Syria, Iran and North Korea.

But it appears that Huawei's troubles aren't over yet.

"It was a factual update on what happened, what they've done since the order was put in place, and what they're doing to remedy the situation", a Semiconductor Industry Association spokesman said.

ZTE, which sells smartphones in the United States, paid $890 million in fines and penalties, with an additional penalty of $300 million that could be imposed. We don't know the specifics of the investigation, but Huawei could face similar penalties if the government decides it acted improperly. The company also pledged to shoulder responsibilities to global clients, consumers, partners and suppliers and insist on independent innovation in core technologies, People's Daily reported Tuesday.

In Beijing, foreign ministry spokeswoman Hua Chunying said China opposed countries imposing their own laws on others when asked whether Huawei violated United States sanctions related to Iran. SASAC went on to add that not only do the actions (and sometimesinaction) taken by ZTE harm its own business operations, but also suppliers and other companies that it depends on. Last week, the Federal Communications Commission voted in favor of banning the use of government subsidies to buy equipment from the two companies, citing security concerns.

Huawei would not comment on the Journal report.

Several ZTE vendors watched their stock prices stumble in recent days, collateral damage after the Commerce Department put in place a seven-year ban, as national-security and trade-related tensions flare up between the US and China.

Huawei and ZTE have denied these allegations. This comes right after ZTE suspended trading in mainland and Hong Kong shares on April 17.

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