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ZTE protests US penalty, says it is seeking solution

ZTE Corp., one of China's biggest tech companies, warned Friday a ban on access to U.S. technology threatens its survival and said the company is looking for a legal solution.

State-owned ZTE "may enter a state of shock," which will hurt its employees and U.S. suppliers, its chairman said, according to Chinese news reports. A separate company statement said the ban "threatens ZTE's existence."

The ban was imposed Monday in a case involving exports of telecoms equipment to Iran and North Korea. U.S. companies are barred from selling technology to ZTE for seven years.

The penalty comes as tension mounts between Beijing and U.S. President Donald...

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