After the company was labeled as a Chinese Communist Military Company back in January, the U.S. government has decided to let Xiaomi continue to receive American investments as usual.
Near the end of former President Donald Trump’s tenure, the U.S. Department of Defense added Xiaomi, along with eight other Chinese companies, to an investment blacklis t, labeling the smart device maker as a Communist Chinese Military Company. The order prevented American investors from putting any money into Xiaomi, and also would have forced existing stakeholders to divest their shares in the company by November. Now, the U.S. government is reversing its course, at least in regards to Xiaomi specifically, according to recent court filings seen by Bloomberg. In the documents, the Department of Defense says that it «would be appropriate» to revert the designation, though nothing was said on the conditions for that to happen.
