The Trump administration has told lawmakers it has reached a deal that would keep Chinese telecom firm ZTE alive, the New York Times reported, citing a person described as familiar with the matter. Under an agreement brokered by the Commerce Department, ZTE ZTCOY, -3.89% would pay a substantial fine, hire American compliance officers to be placed at the company and make changes to its current management team, the report said. In return, the Commerce Department would lift what's known as a denial order that is now preventing ZTE from buying American products. ZTE was banned from buying U.S. technology components for seven years, as punishment for violating U.S. sanctions against Iran and North Korea.