US to remove Xiaomi from blacklist

A Xiaomi spokeswoman said the company is watching the latest developments closely, without elaborating


Reuters May 13, 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

WASHINGTON:

The US Defence Department will remove China’s Xiaomi Corp from a government blacklist, a court filing showed, marking a reversal by the Biden administration of one of Donald Trump’s last jabs at Beijing before exiting office. The court filing said the company and the US government would agree to resolve their ongoing litigation, bringing to an end a brief and controversial spat between the hardware company and Washington that had further soured Sino-US ties. A Xiaomi spokeswoman said the company is watching the latest developments closely, without elaborating. Shares in the company jumped over 6% in Hong Kong as news of the decision spread. The company’s share price has tumbled roughly 20% since it was placed on the blacklist in January in the waning days of the Trump administration. The Defence Department did not immediately comment. A Justice Department spokeswoman declined to comment. The department had designated the firm as having ties to China’s military and placed it on a list that would restrict US investment in the company.

Published in The Express Tribune, May 13th, 2021.

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