As part of the deal, the tech firm, which has been struggling to survive under heavy U.S. sanctions for doing business with Iran and North Korea, will have to pay a billion-dollar fine and bring on an American monitoring team, Commerce Secretary Wilbur Ross told CNBC on Thursday. In April, the U.S. government banned the Chinese electronics maker from business dealings with American companies, bringing ZTE to the brink of closure. Its fate has since come to represent the wider trade dispute between the U.S. and China. Cheddar's Nora Ali and Tim Stenovec break down the details.