ZTE ceased major operations in April after a seven-year ban was imposed on the company for breaking a 2017 agreement that was reached after it was caught illegally shipping goods to Iran and North Korea.
ZTE pleaded guilty past year to conspiring to evade USA embargoes by buying US components, incorporating them into ZTE equipment and illegally shipping them to Iran, paying almost $900 million (670.54 million pounds) in fines. The company will also have to keep a team of "compliance coordinators" for the next 10 years, which will be selected by the DoC.
The company was found to have shipped its sophisticated telecommunications equipment to both nations and to have repeatedly lied to USA investigators about its actions. The ban also hurt American companies that supply ZTE.
But early this year, the U.S. government discovered that ZTE had not followed through on its promise. Last year, the company was already fined $1.2 billion for violating United States sanctions.
The Commerce Department said the compliance team will be in place for a decade. Last month, Trump tweeted that he was looking for a way for ZTE to "get back into business, fast" because there were "too many jobs in China lost" from ZTE's shutdown.
Here's The Massive First Setlist From Beyoncé & JAY-Z's New World Tour
E! News further reports that the video also shows footage of Beyoncé and Jay-Z's family life with their kids. The never-before-seen video was followed by a message reading "This is real love" flashing on screen.
Mr Ross said the fine was the largest penalty ever levied by Commerce's Bureau of Industry and Security and pledged to continue monitoring ZTE's behaviour.
Ross touted the deal as a victory, saying the administration's previous strict actions accomplished its goal in that it "brought ... a $17 billion company to its knees more or less put them out of business" and that the new agreement is "something I think even more effective".
The White House didn't respond to a request for comment.
Negotiations over ZTE had been linked to wider trade talks between the U.S. and China.
Wilbur Ross unveiled details of the deal in an interview for U.S. television channel CNBC on Thursday, saying that ZTE had agreed to pay out $1.4 billion (€1.18 billion) in return for the lifting of a ban that prevented it buying vital USA components.
It had been speculated that any deal could be scuppered by resistance from both Democrats and Republicans in US Congress, who believe Trump is bowing to pressure and that ZTE could be a possible threat to national security.