China's No. 2 telecommunications equipment-maker, ZTE, secured a lifeline from the Trump administration on Thursday after agreeing to pay a $1 billion fine and overhaul leadership in a deal that will lift a ban on its doing business with U.S. suppliers.
The agreement comes as U.S. President Donald Trump seeks trade concessions from China and negotiations continue to avoid a trade war between the world's two largest economies.
Shares of U.S. companies that do business with ZTE rose Thursday.