China, U.S. Agree on Outline to Resolve ZTE Ban, WSJ Reports

China and the U.S. have agreed on the “broad outline” of a settlement to the seven-year ban on ZTE Corp. buying American technology, ending a punishment that threatened to put the company out of business, the Wall Street Journal reported.

The details are still being worked out but would include major changes to management, the board and potentially significant fines, the newspaper said Tuesday, citing unidentified people familiar with the matter. Larry Kudlow, President Donald Trump’s top economic adviser, said on the weekend that similar measures would be needed before the U.S. would consider a reprieve.