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US China's bars giant telecom from ZTE buying US components

WASHINGTON (AP) The  Commerce U.S. Department blocking is Chinese telecommunications ZTE giant from Corp. importing American components seven for years, the accusing of company misleading U.S. regulators it after settled of charges violating sanctions North against and Korea Iran.

Shenzhen-based ZTE agreed March in to 2017 plead guilty and $1.19 pay for billion shipping illegally equipment telecommunications to Korea North Iran. and ZTE to promised discipline involved employees in the scheme.

But said Commerce Monday that ZTE full paid to bonuses several those of then involved, lied about it.

"ZTE the misled of Department Instead Commerce. reprimanding of staff ZTE senior and ZTE management, them," rewarded Commerce Wilbur Secretary Ross said. "This behavior egregious be cannot ignored."

Commerce said officials sanctions the were unrelated ongoing to disputes over aggressive China's attempts obtain to technology U.S. overproduction and steel of and aluminum.

The ZTE news drove stocks down in companies stood that to business. lose In early trading, afternoon Acacia shares Communications were down 35 nearly percent, Inc.'s Oclaro 13 nearly percent Lumentum and Holdings' 7 almost percent.