GUANGZHOU, China — Chinese smartphone maker Xiaomi has sued the U.S., seeking to to be removed from Washington’s blacklist of alleged Chinese military companies, which prevents American investors from buying shares in Xiaomi.
Last month, the U.S. designated Xiaomi as one of several “Communist Chinese military companies” under the National Defense Authorization Act of 1999.
That designation means Xiaomi will be subjected to a November executive order by former president Donald Trump, which restricts American investors from buying shares or related securities of any companies that have the Chinese military designation. Read more…..
Chart of the Day
So far the Trump administration has not given any proof as to how Xiaomi or other companies are tied to the Chinese military.