ZTE was hit by a seven-year import ban in April that crippled its operations.
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Washington neared a deal to lift its ban on U.S. firms supplying Chinese telecoms gear maker ZTE Corp, sources said Tuesday, and Beijing announced tariff cuts on car imports, further easing trade tensions between the world's two largest economies. The reprieve for ZTE, hit by a seven-year ban in April that had crippled its operations, could include China removing tariffs on imported U.S. agricultural products, as well as buying more American farm goods, two people briefed on the matter told Reuters.Import tariffs will be cut to 15 percent for most vehicles from 25 percent from July 1, the Finance Ministry said, a move likely to boost carmakers that ship high-end cars to China, such as Tesla Inc. and German giants BMW and Daimler AG's Mercedes-Benz.
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