Xiaomi is added to the US blacklist by Trump administration
Xiaomi is one of the largest smartphone manufacturers in the world and recently it has become the victim of being crosshairs by Donald Trump. As we all know that, Donald Trump has only a few days left in the office, still his administration is putting many Chinese companies on its blacklist target and Xiaomi is one of the latest victims among these.
Xiaomi has been designated as a “Communist Chinese military company" and it means that which means that it would be subject to Trump's Executive Order, which forbids the US from engaging in "Chinese military" firms that are found to be a security threat.
In November, an executive order has been signed by President Donald Trump and it was set to take action in January, to block investment in companies classified as funding the activities of China's military, intelligence, and security establishment. The target of the list is- China's major chipmaker SMIC, Huawei, and the three largest telecom operators of the country.
It has been confirmed by Xiaomi that, the company is not involved with the Chinese Military in any activities like being the owner, affiliating, and controlled. Moreover, it has denied being a “Communist Chinese Military Company” which is defined under the NDAA (National Defence Authorization Act). Proper actions will be taken by the company to protect the interest of the company and also the interest of the stakeholders. This information has been collected from the statement of a Xiaomi spokesperson.
Last week, it has been announced by the New York Stock Exchange that, three Chinese telecom company stocks will be delisted for complying with US President Donald Trump’s executive order to ban American Investment in several companies. It needs to be seen how Joe Biden is going to handle the policies of the Trump age against Chinese tech giants.
Although Xiaomi's activities and infrastructure access are unchanged by the current round of U.S. government attacks, a supply chain ban could become a sword of Damocles. Xiaomi is doing the best job by using the latest and high-end Snapdragon 888 chipset.
Xiaomi has to keep going with the flow of development regularly to cope up with the negative effect of restrictions imposed by the entity list. The New York Stock Exchange also reported last week that three Chinese telecommunications companies would be removed for complying with US President Donald Trump's executive order restricting American investment in such companies.