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Xiaomi shares up after court suspends Trump-era investment ban


Xiaomi enjoyed a sharp rise in its share price on Monday after a US court temporarily blocked the Department of Defense from forcing American investors to divest from the China-based smartphone manufacturer.
It followed President Trump s decision on January 14, just days before he left office, to add Xiaomi to a list of Communist Chinese Military Companies under the 1999 National Defense Authorization Act s Section 1237.
Fear and sadness: Trump is gone – and so is the ban on investing in Xiaomi, at least for now.
(Source: The White House)
Xiaomi had argued that the decision was factually incorrect and has deprived the Company of legal due process. Unless reversed, the move would have prevented US investors from buying Xiaomi shares by March 15, forcing them to divest their holdings by January 14, 2022. ....

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Xiaomi sues US to reverse Trump blacklisting


Donald Trump spent his last days in office blacklisting Beijing smartphone maker Xiaomi and other Chinese technology companies.
Not content to wait and see if the new administration of President Joe Biden overturns it, Xiaomi has decided to try its luck in court.
The world s third-largest smartphone maker brought the action on Friday in the US District Court for the District of Columbia, against Lloyd Austin s Department of Defense and Janet Yellen s Treasury.
Fight or flight: Xiaomi isn t taking Trump s farewell blacklisting lying down.
Trump s decision on January 14, four days before he left office, added Xiaomi to a list of Communist Chinese Military Companies under the 1999 National Defense Authorization Act s Section 1237. ....

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