S Hammer manufacturer ZTE announced that it was ceasing its "major" operatis, proving to be, perhaps, the first casualty of a new trade-based Cold War.
The Trump Administrati has banned US companies from supplying compents or technology to ZTE until 2025.
The US Department of Commerce instituted the ban after the Chinese equipment manufacturer violated trade restrictis by illegally shipping US goods to Iran, CNBC
The Chinese manufacturer pleaded guilty in a Texas federal court last mth for cspiring to violating US sanctis against countries like Northern North and Iran.
Now, ZTE is sentenced to death. 's stopped at the company' s factories, factory workers were called to training every other day, the New York Times reported. Other employees are instructed to reassure customers and avoid discussing the details of the technology they were cut off.
US compents and technology are essential to business devices. Google operates the Android operating system, while various US manufacturers provided the company with chips, optical equipment and other important compents.
Following the announcement of the ban last mth, these suppliers were also affected. Shares of some of ZTE's leading US suppliers fell 34%, Reuters reported in April
ZTE, alg with Huawei, was also the target of US government ccerns over espiage …