Saturday, May 15, 2021 – 18:17 | Last Updated: 15 05 2021 – 18:18
USA and Xiaomi have compromised. The US government has blacklisted Xiaomi, which was blacklisted under former President Trump, as part of the court decision. Xiaomi was listed as a “Chinese army-linked company” by the US Department of Defense and the Treasury, which is why the company sued the US government earlier this year. The US Department of Defense agreed that it would be appropriate to remove Xiaomi from the blacklist.
It has been reported that the US Department of Defense will remove the Chinese technology company Xiaomi, which was blacklisted during the period of former president Donald Trump, from the black list.
While the company’s shares have fallen by 20 percent since the day it was blacklisted in January, it was reported that US investors were unable to invest in the company due to the company’s blacklist.
After Xiaomi was blacklisted by the Donald Trump administration, the company filed a lawsuit against the US government, describing the situation as “illegal and unconstitutional” and denied any ties to the Chinese military.
US President Donald Trump blacklisted nine Chinese companies, including Xiaomi, on suspicion of helping the Chinese military or government, days before handing over the seat.
According to the decision, US investors were banned from investing in Xioami and asked to withdraw their investments.