ZTE counteracts US ban, terms it ‘extremely unfair’

By: |
Shenzhen | Published: April 20, 2018 1:39:27 PM

The announcement came after the US Department of Commerce imposed denial of export privileges against ZTE for alleged violations of the Export Administration Regulations earlier this week

ZTE said it is determined to take all means permitted by law to safeguard its legitimate rights. (Source: Reuters)

Chinese telecom equipment maker ZTE Corporation said on Friday it will not accept a ban by the US on the company, terming the decision “extremely unfair”.

The announcement came after the US Department of Commerce imposed denial of export privileges against ZTE for alleged violations of the Export Administration Regulations earlier this week, Xinhua news agency reported.

The Shenzhen-based company said it is determined to take all means permitted by law to safeguard its legitimate rights and interests, while it will continue efforts to solve the issue through dialogue.

China’s Ministry of Commerce (MOC) said Thursday that the US action against ZTE will damage itself. “The action targets China, however, it will ultimately undermine the US itself,” said MOC spokesperson Gao Feng.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.