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$1.7 billion

US may soon claim up to $1.7 billion penalty from China’s ZTE: sources

WASHINGTON: The Trump administration may soon claim as much as $1.7 billion penalty from ZTE, as it looks to punish and tighten control over the Chinese telecommunications company before allowing it back into business, according to people familiar with the matter. The Commerce Department is also seeking unfettered site visits to verify US components are being used as claimed by ZTE, and wants it to post calculations of the US components in its products on a website, the people said. China’s No.2 telecommunications…