US will lift sales ban against China's ZTE: Report

The Trump administration is likely to lift an order banning US companies from selling components and software to China's ZTE Corp.

According to the Wall Street Journal, ZTE will have to initiate significant changes to its management and board as part of the agreement.

US President Donald Trump, on May 14, defended his decision to offer an olive branch to Chinese telecom equipment maker ZTE. The Trump administration had previously banned from purchasing US components or acquiring American companies.

Following series of complaints from China, Trump has asked his Commerce Secretary Wilbur Ross to look into the issue. 

"ZTE, the large Chinese phone company, buys a big percentage of individual parts from US companies. This is also reflective of the larger trade deal we are negotiating with China and my personal relationship with President Xi," Trump said on last Monday.

(With inputs from Reuters)