US agrees to remove Xiaomi from controversial blacklist
- The US government has agreed to drop Xiaomi from a US blacklist.
- This blacklist would’ve barred US citizens and entities from investing in Xiaomi.
The US government and Xiaomi have reportedly come to an agreement that will see the Chinese firm removed from a US blacklist.
According to a filing in the US courts (spotted by Bloomberg), the US Department of Defense has now affirmed that a final order removing Xiaomi from the blacklist “would be appropriate.”
“The Parties have agreed upon a path forward that would resolve this litigation without the need for contested briefing,” read an excerpt of the filing, according to the outlet. It’s believed that specific terms are being negotiated and that a joint proposal will be issued on May 20.
Xiaomi was added to a blacklist by the Trump administration in early January, accusing it of being a “Communist Chinese Military Company.” This listing would’ve meant that US investors couldn’t invest in Xiaomi and would’ve seen it being delisted from US exchanges.
The Chinese manufacturer has maintained that it’s an independent, publicly traded company, and won a temporary injunction against the blacklisting in March. We’ve asked Xiaomi for comment regarding the news and will update the article if/when it gets back to us.
This isn’t the only good news for Xiaomi this month, as a recent smartphone market-share report found that it passed Apple for the number two spot in Europe in Q1 2021.
from Android Authority https://ift.tt/3faSmj5
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