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ZTE is one of China's leading manufacturers of telecom equipment.

The White House did not immediately confirm news of the latest deal. Additionally, a bipartisan group of senators has warned the administration not to "compromise lawful USA enforcement actions against serial and pre-meditated violators of US law, such as ZTE.".

The issue of chip technology is now in the spotlight after the US Department of Commerce in April banned the export of American technology components and operating systems to ZTE, one of China's biggest makers of telecommunications hardware and smartphones, for breaching the settlement terms in a violation of Iran and North Korea trade sanctions. The Commerce Department decision would allow it to resume business with USA companies, including Qualcomm Inc, the chipmaker that is a ZTE supplier.

A US trade ban last month effectively ceased operations at ZTE, but President Donald Trump has pledged to help it out. A bill that would prevent the Department of Commerce to walk back the ZTE sanctions could still stop the deal in its tracks.

ZTE was crippled following sanctions from the US. "Commerce Department has been instructed to get it done!"

The denial order was implemented after ZTE failed to respond to earlier sanctions that alleged the company sold goods containing USA parts into Iran and North Korea, a violation of sanctions against those countries.

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Democratic Sen. Chuck Schumer of NY criticized the reported deal: "President Trump would be helping make China great again".

Lawmakers, including Mr. Van Hollen, have rolled out a variety of measures aimed at clipping the administration's authority to ease penalties on ZTE and have publicly criticized the administration's consideration of a deal. "If President Trump won't put our security before Chinese jobs, Congress will act on a bipartisan basis to stop him".

Republican Sen. Marco Rubio of Florida tweeted: "It is a great deal. for #ZTE & China". Complaining that the Obama administration allowed the company to "flourish with no security checks", the president says that he "closed it down then let it reopen with high level security guarantees" as well as a "change of management and board". -China relations after the administration crippled the company by cutting it off from US suppliers for allegedly violating terms of a 2017 settlement over Iran and North Korea sanctions violations and then lying about it. The ban amounted to a virtual death sentence for ZTE, which relies on United States parts, and it also hurt ZTE's USA suppliers.

It appears that the Trump administration felt that the ban dealt too much harm too quickly.

Trump did not reveal more details about the agreement with ZTE, but used the opportunity to give flak to the Democrats over "bad deals" and "Trade Deals [that] are the laughing stock of the world". ZTE shut down most of its production after the ruling was announced.

ZTE has over 70,000 employees, it grossed more than $17 billion in annual revenue and it maintains close ties to the Chinese government.