Xiaomi Group and the US Department of Defense have released a joint status report in connection with the lawsuit filed by a Chinese company. In the documents, the US government admitted its mistake and declared its readiness to settle this issue with Xiaomi Group and exclude the company from the military blacklist.
In mid-January, the Donald Trump administration in the United States blacklisted several Chinese companies, including Xiaomi. They were accused of being owned by the Chinese military or having very strong ties to the Chinese communist government.
In response, Xiaomi issued a public statement confirming that it has no ties to the Chinese government and does not belong to the Chinese military. Xiaomi said it will use all legal avenues to recover damages for unfair blacklisting by the US government.
In March, a federal judge in Washington prohibited the Department of Defense from restricting U.S. investments in Chinese smartphone maker Xiaomi. US District Judge Rudolph Contreras supported Xiaomi, which said the move was “headstrong and capricious” and deprived the company of its due process rights. At the same time, American investors retained the right to buy Xiaomi securities. Then the court said that Xiaomi is likely to win in this case.
The January announcement of Xiaomi’s US blacklisting has lowered its market value by $ 10 billion.
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