US removes Xiaomi from government blacklist
Trump administration, designated the firm as having ties to China’s military and placed it on US ban list
Reuters
May 12, 2021
Attendants are silhouetted in front of Xiaomi s logo at a venue for the launch ceremony of Xiaomi s new smart phone Mi Max in Beijing, May 10, 2016.
PHOTO: REUTERS
The US Department of Defense will remove China’s Xiaomi from a government blacklist, a court filing showed, clearing the way for any future American investment in the Beijing-based smartphone maker.
The filing stated that the two parties would agree to resolve their ongoing litigation without further contest, bringing to an end a brief and controversial spat between the hardware company and Washington.
Xiaomi Removed From US Blacklist, Reversing Late China Jab by Donald Trump
US had designated Xiaomi as having ties to China s military and placed it on a list that would restrict US investment in the company. By Reuters | Updated: 12 May 2021 16:56 IST
Xiaomi s share price has tumbled roughly 20 percent since it was placed on the blacklist in January
Highlights
Seven other Chinese companies were also placed under similar restrictions
Huawei was also put on an export blacklist in 2019
The US Department of Defense will remove China s Xiaomi from a government blacklist, a court filing showed, marking a noteworthy reversal by the Biden administration of one of Donald Trump s last jabs at Beijing before exiting office.
Read more about US removes Xiaomi from blacklist, reversing late China jab by Trump on Business Standard. Xiaomi was among the more high-profile Chinese technology companies that former President Donald Trump targeted for alleged ties to China s military.
Xiaomi is off the US government blacklist
By Reuters
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The U.S Department of Defense will remove Chinaâs Xiaomi from a government blacklist, a court filing showed, clearing the way for any future American investment in the Beijing-based smartphone maker.
The filing stated that the two parties would agree to resolve their ongoing litigation without further contest, bringing to an end a brief and controversial spat between the hardware company and Washington.
A Xiaomi spokeswoman said the company is watching the latest developments closely, without elaborating. Shares in the company rocketed over 6% in Hong Kong as news of the decision spread.