Outgoing Trump administration places Xiaomi on an funding blacklist

In a shock transfer, the Division of Defence underneath the outgoing Donald Trump administration has put 9 Chinese language corporations on a blacklist citing army connections. Tech big Xiaomi is the shock inclusion within the checklist.

The blacklist bars US people and firms from investing in these corporations. That is totally different from Huawei‘s commerce ban the place Individuals have been blocked from doing with the tech big. So, Xiaomi received’t be barred from utilizing Android, Google Play Retailer, or Qualcomm’s chips.

Underneath this new ban, the commerce division might additionally block the import of “delicate expertise” from China or another nation.  This new order specifies that US buyers, akin to chipmaker Qualcomm, should divest their stake by November 11.

Xiaomi, which grew to become the third-largest smartphone manufacturer by surpassing Apple last year, received’t have any rapid considerations about supply-chain administration or buying elements for now.

Trump administration has been ruthlessly placing Chinese language machine producers on blacklists. After banning Huawei and ZTE, it banned drone maker DJI final month.

All eyes will likely be on the incoming Biden administration to reverse the ban. Nevertheless, he has additionally offered a tough stance towards China until now.

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Revealed January 15, 2021 — 03:08 UTC

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