In the US, the Chinese smartphone manufacturer Xiaomi is resisting being recently blacklisted by the US Department of Defense for alleged military connections. This decision is “factually incorrect” and proper legal proceedings are “withheld”. The company has now filed a case against the US Department of Defense and Treasury with the United States District Court for the District of Columbia.
“In order to protect the interests of global users, partners, employees, and shareholders of the company, the company has asked the courts to declare the decision unlawful and to overturn it,” the Chinese company said on Sunday.
After the US decision of January 15th – still under the then President Donald Trump – the share price of Xiaomi collapsed. At that time, the USA blacklisted not only this but eight other Chinese companies. US investors will then have to sell their shares in the company. “Shareholders and potential investors are advised to exercise caution when trading in the company’s securities,” Xiaomi said in a statement on Sunday.
We are eagerly awaiting how the new US president Joe Biden will shape his China policy. It was only on Friday that the US Presidential Office spokeswoman Jen Psaki said: “Everything that the last government introduced is being examined.” She was answering a question as to whether the so-called Phase 1 deal with China that Trump entered into was still valid from the perspective of the new president.