Chinese telecommunications firm ZTE Corp. is halting business in the U.S. following the Commerce Department’s ban on supply sales to the company.
The company said it’s working with the relevant agencies to try to overturn the order, which prevents any U.S. company from selling parts and software to ZTE and Huawei Technologies, another Chinese-owned manufacturer of telecommunications products.
“As of now, the company maintains sufficient cash and strictly adheres to its commercial obligations subject to compliance with laws and regulation,” Shenzhen-based ZTE said in a regulatory filing.
ZTE has warned the U.S. about the impact the ban would have on its business operations and said earlier this month in a separate regulatory filing that it submitted a formal request to the Commerce department to overturn the order. While ZTE doesn’t have administrative appeal rights, the Commerce Department has agreed to consider additional evidence the company submits informally.
