Xiaomi and 9 More Chinese Companies Blacklisted in U.S

Xiamoi Blacklisted in US
Xiamoi Blacklisted in US

TechShits.Com readers should not be surprised to learn that Huawei, DJI, SMIC and a number of other Chinese companies are already under US trade ban.

Meanwhile, the U.S. Department of Defense reports that Xiaomi, the world’s third-largest smartphone maker, and eight other companies have been added to their military blacklist as Communist Chinese military companies.

However, the entity list of the US Department of Commerce, which classifies companies such as Huawei and DJI, and the companies on the military blacklist classified by Xiaomi differ from one another.

Entity-listed companies are prohibited from using American technology, and American companies are also prohibited from doing business or trading with those companies.

However, the companies on this military blacklist will continue to use American technology and trade with American companies, but American companies will lose investment opportunities, including the ability to buy shares in Xiaomi.

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The US government has also given a grace period of November 20, 2021 to American companies that have already made such investments to repay their investments.

However, the US government has named Xiaomi as a Communist Chinese military company, but has not provided any clear evidence that Xiaomi has stated that its company is not affiliated, controlled or owned by the Chinese military.

The term of office of President Donald Trump expires in four days, and The Verge website points out that the next president, Joe Biden, is likely to change these decisions again.

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