US and China work on ZTE rescue; Mnuchin denies quid pro quo

The United States and China are working toward an agreement that would ease U.S. sanctions that were imposed on ZTE Corp. and let the Chinese telecommunications giant stay in business.President Donald Trump says the deal might require ZTE to revamp its board and pay a fine of $1 billion or more.Treasury Secretary Steven Mnuchin is denying that the U.S. is offering relief for ZTE in exchange for trade concessions.