ZTE Corp. has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers, allowing China's No. 2 telecommunications equipment-maker to get back into business, according to sources.
ZTE ceased major operations since the seven-year ban was imposed on the company in April for breaking a 2017 agreement reached after it was caught illegally shipping goods to Iran and North Korea.
A Commerce Department spokesman said on Tuesday that "no definitive agreement has been signed by both parties."