Most Americans have never heard of ZTE but it has become a Ping-Pong ball in diplomatic and economic negotiations between the United States and China. The company’s future became an issue ahead of Mr. Trump’s summit with North Korea’s leader, which China was helping to facilitate.

In April, the government banned ZTE from buying American technology for seven years as punishment for failing to rectify issues related to its sanctions violation. The move threatened to put ZTE, which buys a large quantity of semiconductors from San Diego-based Qualcomm, out of business.

President Xi Jinping of China appealed personally to Mr. Trump to save the company and Mr. Trump obliged. The Commerce Department announced June 7 that it would lift the ban, in return for the Chinese company paying a $1 billion fine, replacing its board and senior leadership, and embedding a compliance team handpicked by the United States inside its company. Wilbur Ross, the secretary of commerce, said the penalty was the strictest ever levied by the agency’s Bureau of Industry and Security.

The legislation in Congress does contain text to expand the authority of the Committee on Foreign Investment in the United States, which reviews foreign deals for security threats. And it also bolsters the system the United States uses to monitor the technologies that are exported abroad. Republican congressional leaders confirmed on Thursday that the House and Senate had reached a deal on the investment provisions.

“This deal on #CFIUS is good news,” Senator Marco Rubio, a Florida Republican, wrote in a Twitter post on Friday. “The bad news? They had to cave on #ZTE in order to get it. So chances that a #China controlled telecomm will not just stay in business, but do so here inside the U.S. sadly just went up. #BadTradeoff.”