HomeinetThe US government has agreed to lift Xiaomi's blockade

The US government has agreed to lift Xiaomi's blockade

The U.S. government has agreed to remove Xiaomi from a Trump administration's exclusion list after the company filed a lawsuit earlier in the year, according to court documents seen by Bloomberg. Xiaomi was added to a US military list of alleged Chinese military companies in January, which would have blocked US investment in the company.

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"The parties have agreed on a way forward that will resolve this dispute," the statement said. Other details are lacking, but both parties will submit another joint proposal before May 20, according to Bloomberg.

See also: Xiaomi: In addition to smartphones, it will also manufacture electric cars

At the end of Trump's term, the US Department of Defense said that Xiaomi is a Chinese military-controlled company and part of China's "military-political fusion strategy." Xiaomi returned with the lawsuit just two weeks later, stating that its two co-founders had 75% of the voting rights and that there were no military ties to the property. He added that three of its major shareholders were US investment groups.

See also: Xiaomi prices may rise due to lack of chips

In March, a U.S. court temporarily halted the blockade, saying Xiaomi was likely to win a full reversal. So far, the Pentagon, Xiaomi and Chinese authorities have not commented on the development.

Source of information: engadget.com

Teo Ehchttps://www.secnews.gr
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