On 9 May 2018, ZTE announced that, although it was "actively communicating with the relevant U.S. government departments" to reverse the export ban, it had suspended its "major operating activities" (including manufacturing) and trading of its shares. On 13 May 2018, U.S. president Donald Trump stated that he would be working with Chinese president Xi Jinping to reverse the ban. It was argued that the export ban was being used as leverage by the United States as part of an ongoing trade dispute with China. On 7 June 2018, ZTE agreed to a settlement with the Department of Commerce in order to lift the import ban. The company agreed to pay a US$1 billion fine, place an additional US$400 million of suspended penalty money in escrow, replace its entire senior management, and establish a compliance department selected by the Department.