Earlier, Xiaomi had been blacklisted by the United States as former President Donald Trump designated the company as a “Communist Chinese military company". As a result, US citizens and companies were barred from investing or dealing with Xiaomi. Until now, it is reported that the Chinese tech company is finally removed from the blacklist following a lawsuit to US courts.
According to Bloomberg, sides agreed “upon a path forward that would resolve this litigation without the need for a contested briefing”, which means that the US Defense Department backed down from de-listing the company from global benchmark indexes. Therefore, Xiaomi can now conduct its businesses as usual in the country.
In January 2021, Xiaomi was granted a preliminary injunction (an exclusion from the ban) by the US District Court for the District of Columbia. At that time, Xiaomi claimed that it will continue to request that the US government permanently removes it from the blacklist. Months later, it turns out that the company has achieved what it wants.
Let us know what you think about the news on our Facebook page. Stay tuned to TechNave.com for the latest tech report.
COMMENTS