(CNN) The Commerce Department informed lawmakers on Friday of the outlines of a tentative deal that could save sanctioned telecommunications company ZTE, a key priority for Chinese President Xi Jinping, according to two people familiar with the matter.

A completed deal is considered a key piece of the ongoing trade negotiations with China. However, news of the deal was met with public backlash from members of both parties on Friday.

The people cautioned that the potential deal was presented as not final -- meaning things could change, particularly as bipartisan congressional blowback intensifies. But it would include a significant fine, north of $1 billion, and require the company, which is barred from buying US products due to sanctions violations, to install a new compliance regime and make management changes.

If those changes are made, the Commerce Department's "denial order," which led the company to say it had halted "major operating activities," would be lifted, the people said.

President Donald Trump, in a tweet criticizing former President Barack Obama and Senate Minority Leader Chuck Schumer on Friday evening, wrote of the deal, "I closed (ZTE) down then let it reopen with high level security guarantees, change of management and board, must purchase U.S. parts and pay a $1.3 Billion fine."

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